Great Lakes Advisors LLC Invests $351,000 in Western Alliance Bancorporation (NYSE:WAL)

Great Lakes Advisors LLC bought a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,333 shares of the financial services provider’s stock, valued at approximately $351,000.

Several other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its holdings in shares of Western Alliance Bancorporation by 422.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 760 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in Western Alliance Bancorporation in the fourth quarter valued at about $65,000. Fortitude Family Office LLC acquired a new stake in Western Alliance Bancorporation in the fourth quarter worth about $93,000. Systematic Alpha Investments LLC purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth about $166,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Western Alliance Bancorporation during the third quarter valued at about $177,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WAL has been the topic of several research analyst reports. Citigroup boosted their target price on shares of Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. dropped their price objective on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Truist Financial reduced their target price on Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Barclays dropped their price target on Western Alliance Bancorporation from $91.00 to $86.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Finally, Hovde Group began coverage on Western Alliance Bancorporation in a research note on Monday, April 22nd. They issued an “outperform” rating and a $75.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and an average price target of $72.47.

Western Alliance Bancorporation Stock Performance

WAL opened at $64.36 on Thursday. The firm has a fifty day moving average price of $60.65 and a 200 day moving average price of $59.39. Western Alliance Bancorporation has a 1 year low of $33.19 and a 1 year high of $70.23. The stock has a market cap of $7.09 billion, a P/E ratio of 9.38, a P/E/G ratio of 1.22 and a beta of 1.47. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.87.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.03. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.77%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $711.34 million. During the same period in the prior year, the company posted $2.30 EPS. Equities research analysts anticipate that Western Alliance Bancorporation will post 7.44 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Wednesday, May 15th. Western Alliance Bancorporation’s payout ratio is 21.57%.

About Western Alliance Bancorporation

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.