GSA Capital Partners LLP Raises Position in Western Alliance Bancorporation $WAL

GSA Capital Partners LLP raised its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 535.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,420 shares of the financial services provider’s stock after acquiring an additional 13,835 shares during the quarter. GSA Capital Partners LLP’s holdings in Western Alliance Bancorporation were worth $1,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Invesco Ltd. boosted its stake in shares of Western Alliance Bancorporation by 3.4% during the 3rd quarter. Invesco Ltd. now owns 6,016,027 shares of the financial services provider’s stock worth $521,710,000 after acquiring an additional 197,854 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Western Alliance Bancorporation by 36.5% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,979,916 shares of the financial services provider’s stock worth $518,578,000 after acquiring an additional 1,599,537 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Western Alliance Bancorporation by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,674,518 shares of the financial services provider’s stock worth $318,655,000 after acquiring an additional 58,535 shares during the last quarter. William Blair Investment Management LLC boosted its stake in shares of Western Alliance Bancorporation by 3.5% during the 3rd quarter. William Blair Investment Management LLC now owns 2,394,722 shares of the financial services provider’s stock worth $207,670,000 after acquiring an additional 81,386 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Western Alliance Bancorporation by 1.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,288,233 shares of the financial services provider’s stock worth $198,436,000 after acquiring an additional 36,364 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Up 1.3%

Shares of WAL stock opened at $77.12 on Thursday. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 0.58 and a beta of 1.37. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23. The company’s fifty day moving average price is $74.73 and its 200-day moving average price is $81.69. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.86 and a quick ratio of 0.81.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.22 EPS for the quarter, beating the consensus estimate of $1.48 by $0.74. The firm had revenue of $968.40 million for the quarter, compared to the consensus estimate of $944.18 million. Western Alliance Bancorporation had a net margin of 17.03% and a return on equity of 13.58%. The company’s revenue was up 31.0% on a year-over-year basis. During the same period last year, the firm earned $1.79 EPS. Sell-side analysts expect that Western Alliance Bancorporation will post 9.87 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 14th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, May 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 19.56%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WAL. Jefferies Financial Group reiterated an “overweight” rating and set a $105.00 price target on shares of Western Alliance Bancorporation in a research note on Friday, March 6th. Piper Sandler dropped their price target on shares of Western Alliance Bancorporation from $94.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. DA Davidson dropped their price target on shares of Western Alliance Bancorporation from $93.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. UBS Group raised their price objective on shares of Western Alliance Bancorporation from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Finally, Weiss Ratings downgraded shares of Western Alliance Bancorporation from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 20th. Nine research analysts have rated the stock with a Buy rating and five 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 a consensus target price of $92.93.

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.