Squarepoint Ops LLC acquired a new stake in shares of Western Alliance Bancorporation (NYSE: WAL – Get Rating) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 18,093 shares of the financial services provider’s stock, valued at approximately $ 1,948,000.
Other hedge funds also recently bought and sold shares of the company. River Oaks Capital LLC bought a new stake in shares of Western Alliance Bancorporation in the 4th quarter worth $ 7,202,000. Wellington Management Group LLP increased its holdings in shares of Western Alliance Bancorporation by 16.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,124,834 shares of the financial services provider’s stock worth $ 448,864,000 after purchasing an additional 574,248 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Western Alliance Bancorporation by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 1,331,301 shares of the financial services provider’s stock worth $ 143,426,000 after purchasing an additional 45,555 shares in the last quarter. GW&K Investment Management LLC increased its holdings in shares of Western Alliance Bancorporation by 5.4% in the 4th quarter. GW&K Investment Management LLC now owns 945,423 shares of the financial services provider’s stock worth $ 101,775,000 after purchasing an additional 48,453 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Western Alliance Bancorporation by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 882,166 shares of the financial services provider’s stock worth $ 94,965,000 after purchasing an additional 11,412 shares in the last quarter. 87.16% of the stock is owned by institutional investors.
NYSE WAL opened at $ 79.06 on Friday. The company has a market capitalization of $ 8.56 billion, a PE ratio of 8.79, a price-to-earnings-growth ratio of 0.84 and a beta of 1.44. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 0.92. The business’s fifty day moving average is $ 77.87 and its 200 day moving average is $ 93.07. Western Alliance Bancorporation has a fifty-two week low of $ 71.68 and a fifty-two week high of $ 124.93.
Western Alliance Bancorporation (NYSE: WAL – Get Rating) last released its earnings results on Thursday, April 21st. The financial services provider reported $ 2.22 earnings per share for the quarter, beating the consensus estimate of $ 2.09 by $ 0.13. The company had revenue of $ 555.80 million for the quarter, compared to the estimate consensus of $ 540.09 million. Western Alliance Bancorporation had a return on equity of 21.77% and a net margin of 41.03%. Western Alliance Bancorporation’s quarterly revenue was up 64.9% compared to the same quarter last year. During the same period in the previous year, the business earned $ 1.90 earnings per share. On average, sell-side analysts forecast that Western Alliance Bancorporation will post 9.88 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 27th. Investors of record on Friday, May 13th were given a dividend of $ 0.35 per share. The ex-dividend date was Thursday, May 12th. This represents a $ 1.40 annualized dividend and a yield of 1.77%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 15.57%.
A number of research firms have commented on WAL. Wedbush lifted their target price on Western Alliance Bancorporation from $ 100.00 to $ 105.00 and gave the stock an “outperform” rating in a report on Monday, April 25th. Truist Financial dropped their price target on Western Alliance Bancorporation from $ 140.00 to $ 110.00 in a research note on Tuesday, April 26th. StockNews.com started coverage on Western Alliance Bancorporation in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Piper Sandler dropped their price target on Western Alliance Bancorporation to $ 105.00 in a research note on Friday, May 20th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $ 125.67.
In related news, CAO J. Kelly Jr. Ardrey bought 3,000 shares of the stock in a transaction that occurred on Thursday, April 28th. The shares were bought at an average cost of $ 78.67 per share, for a total transaction of $ 236,010.00. Following the completion of the transaction, the chief accounting officer now owns 6,090 shares of the company stock, valued at $ 479,100.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 5,150 shares of company stock worth $ 394,784 over the last quarter. 2.81% of the stock is owned by company insiders.
Western Alliance Bancorporation Company Profile: (Get Rating)
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 in Commercial, Consumer Related, and Corporate & Other 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; and treasury management and residential mortgage products and services.
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