Perpetual Ltd Grows Stake in Western Alliance Bancorporation $WAL

Perpetual Ltd lifted its position in Western Alliance Bancorporation (NYSE:WAL) by 55.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 557,894 shares of the financial services provider’s stock after purchasing an additional 199,591 shares during the quarter. Perpetual Ltd owned about 0.51% of Western Alliance Bancorporation worth $46,902,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC grew its position in Western Alliance Bancorporation by 36.5% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,979,916 shares of the financial services provider’s stock worth $518,578,000 after buying an additional 1,599,537 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Western Alliance Bancorporation by 35.8% in the 3rd quarter. Bank of Montreal Can now owns 1,179,518 shares of the financial services provider’s stock valued at $102,288,000 after acquiring an additional 310,826 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Western Alliance Bancorporation by 750.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 287,403 shares of the financial services provider’s stock valued at $25,019,000 after acquiring an additional 253,622 shares in the last quarter. Smead Capital Management Inc. boosted its position in shares of Western Alliance Bancorporation by 19.2% during the 2nd quarter. Smead Capital Management Inc. now owns 1,435,247 shares of the financial services provider’s stock valued at $111,921,000 after acquiring an additional 231,159 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its position in shares of Western Alliance Bancorporation by 11.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,194,630 shares of the financial services provider’s stock valued at $190,318,000 after acquiring an additional 223,425 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

WAL has been the topic of several research analyst reports. Citigroup decreased their price objective on shares of Western Alliance Bancorporation from $107.00 to $103.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. Truist Financial set a $98.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, January 9th. Piper Sandler cut their price target on shares of Western Alliance Bancorporation from $108.00 to $94.00 and set an “overweight” rating for the company in a research note on Thursday. TD Cowen lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating and set a $83.00 price target on the stock. in a report on Monday, March 9th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Western Alliance Bancorporation from $98.00 to $101.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.13.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $72.10 on Friday. The company has a 50-day simple moving average of $81.36 and a two-hundred day simple moving average of $82.68. Western Alliance Bancorporation has a 12-month low of $57.05 and a 12-month high of $97.23. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 8.26, a PEG ratio of 0.63 and a beta of 1.37. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.83.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.19. The business had revenue of $890.80 million for the quarter, compared to analyst estimates of $912.69 million. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.Western Alliance Bancorporation’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period last year, the company earned $1.95 EPS. On average, equities analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 20th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.3%. Western Alliance Bancorporation’s payout ratio is presently 19.24%.

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.