Quantbot Technologies LP Makes New Investment in Western Alliance Bancorporation (NYSE:WAL)

Quantbot Technologies LP acquired a new position in Western Alliance Bancorporation (NYSE:WAL) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 39,059 shares of the financial services provider’s stock, valued at approximately $3,263,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp raised its stake in Western Alliance Bancorporation by 46.2% in the 3rd quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock worth $388,197,000 after purchasing an additional 1,418,472 shares in the last quarter. FMR LLC raised its position in shares of Western Alliance Bancorporation by 93.3% in the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock valued at $241,568,000 after buying an additional 1,347,921 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Western Alliance Bancorporation by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,896,377 shares of the financial services provider’s stock valued at $164,019,000 after buying an additional 74,956 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Western Alliance Bancorporation by 4.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider’s stock valued at $157,369,000 after buying an additional 81,238 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Western Alliance Bancorporation by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,880,681 shares of the financial services provider’s stock valued at $162,701,000 after buying an additional 120,729 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WAL. Piper Sandler boosted their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Stephens restated an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. StockNews.com upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. DA Davidson decreased their price target on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.07.

Western Alliance Bancorporation Trading Up 1.0 %

NYSE:WAL opened at $77.39 on Friday. The firm’s fifty day moving average is $85.08 and its 200-day moving average is $86.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The firm has a market cap of $8.55 billion, a P/E ratio of 10.90, a P/E/G ratio of 0.63 and a beta of 1.43.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Equities analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.96%. Western Alliance Bancorporation’s dividend payout ratio is currently 21.41%.

Western Alliance Bancorporation Profile

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.