14,944 Shares in Western Alliance Bancorporation (NYSE:WAL) Purchased by Duality Advisers LP

Duality Advisers LP purchased a new stake in Western Alliance Bancorporation (NYSE:WAL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,944 shares of the financial services provider’s stock, valued at approximately $983,000.

A number of other hedge funds also recently modified their holdings of WAL. Smead Capital Management Inc. acquired a new stake in shares of Western Alliance Bancorporation during the 4th quarter valued at about $77,957,000. Barclays PLC lifted its position in shares of Western Alliance Bancorporation by 489.0% during the 3rd quarter. Barclays PLC now owns 1,333,881 shares of the financial services provider’s stock worth $61,320,000 after buying an additional 1,107,431 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Western Alliance Bancorporation by 103.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,725,328 shares of the financial services provider’s stock valued at $113,510,000 after buying an additional 876,413 shares in the last quarter. Invesco Ltd. grew its position in Western Alliance Bancorporation by 170.4% in the third quarter. Invesco Ltd. now owns 1,294,476 shares of the financial services provider’s stock valued at $59,507,000 after acquiring an additional 815,737 shares during the period. Finally, Boston Partners bought a new position in shares of Western Alliance Bancorporation during the third quarter valued at $30,368,000. Institutional investors own 79.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WAL shares. Citigroup raised their target price on Western Alliance Bancorporation from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Wedbush decreased their price objective on Western Alliance Bancorporation from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, April 19th. Truist Financial cut their price target on shares of Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Monday. Wells Fargo & Company decreased their target price on Western Alliance Bancorporation from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. Finally, Barclays reduced their price target on Western Alliance Bancorporation from $91.00 to $86.00 and set an “overweight” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.56.

Western Alliance Bancorporation Stock Performance

Shares of NYSE:WAL opened at $59.81 on Wednesday. Western Alliance Bancorporation has a 1 year low of $11.35 and a 1 year high of $70.23. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of 8.72 and a beta of 1.47. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93. The company’s 50 day simple moving average is $59.43 and its 200 day simple moving average is $56.82.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.03. Western Alliance Bancorporation had a return on equity of 14.99% and a net margin of 16.50%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. During the same quarter in the prior year, the firm posted $2.30 earnings per share. As a group, research analysts predict that Western Alliance Bancorporation will post 7.83 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, February 15th. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%.

Western Alliance Bancorporation Company 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.