Quantbot Technologies LP Sells 41,526 Shares of Western Alliance Bancorporation $WAL

Quantbot Technologies LP cut its position in Western Alliance Bancorporation (NYSE:WAL) by 32.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,273 shares of the financial services provider’s stock after selling 41,526 shares during the quarter. Quantbot Technologies LP owned about 0.08% of Western Alliance Bancorporation worth $7,482,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WAL. Congress Asset Management Co. boosted its position in shares of Western Alliance Bancorporation by 14.5% in the third quarter. Congress Asset Management Co. now owns 215,419 shares of the financial services provider’s stock valued at $18,681,000 after acquiring an additional 27,329 shares during the period. MidWestOne Financial Group Inc. raised its stake in Western Alliance Bancorporation by 42.4% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 36,559 shares of the financial services provider’s stock worth $3,170,000 after purchasing an additional 10,887 shares in the last quarter. SG Americas Securities LLC raised its stake in Western Alliance Bancorporation by 568.0% in the 3rd quarter. SG Americas Securities LLC now owns 17,355 shares of the financial services provider’s stock worth $1,505,000 after purchasing an additional 14,757 shares in the last quarter. Cincinnati Financial Corp bought a new stake in Western Alliance Bancorporation in the 2nd quarter valued at about $3,899,000. Finally, Hussman Strategic Advisors Inc. grew its position in shares of Western Alliance Bancorporation by 100.0% during the 2nd quarter. Hussman Strategic Advisors Inc. now owns 42,000 shares of the financial services provider’s stock worth $3,275,000 after purchasing an additional 21,000 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Performance

Western Alliance Bancorporation stock opened at $80.49 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.85 and a debt-to-equity ratio of 0.83. The stock has a market cap of $8.84 billion, a PE ratio of 9.22, a P/E/G ratio of 0.68 and a beta of 1.37. Western Alliance Bancorporation has a 12-month low of $57.05 and a 12-month high of $97.23. The business’s 50-day moving average price is $89.32 and its two-hundred day moving average price is $85.40.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.19. The firm had revenue of $980.90 million during the quarter, compared to analysts’ expectations of $912.69 million. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.95 earnings per share. As a group, analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be given a $0.42 dividend. The ex-dividend date is Friday, February 20th. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 19.24%.

Analyst Ratings Changes

WAL has been the topic of several recent research reports. Citigroup raised their target price on shares of Western Alliance Bancorporation from $104.00 to $107.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Western Alliance Bancorporation in a research report on Monday, December 29th. Barclays reaffirmed an “overweight” rating on shares of Western Alliance Bancorporation in a report on Monday, February 2nd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $105.00 target price (up from $100.00) on shares of Western Alliance Bancorporation in a research report on Wednesday, January 28th. Finally, Jefferies Financial Group increased their target price on Western Alliance Bancorporation from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $103.73.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.