LHM Inc. Has $9.15 Million Holdings in Western Alliance Bancorporation $WAL

LHM Inc. lessened its stake in Western Alliance Bancorporation (NYSE:WAL) by 6.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 108,880 shares of the financial services provider’s stock after selling 7,452 shares during the quarter. Western Alliance Bancorporation makes up approximately 3.4% of LHM Inc.’s portfolio, making the stock its 8th biggest holding. LHM Inc. owned 0.10% of Western Alliance Bancorporation worth $9,154,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC increased its position in Western Alliance Bancorporation by 36.5% in 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 during the last quarter. M&T Bank Corp lifted its position in shares of Western Alliance Bancorporation by 7,920.9% during the 4th quarter. M&T Bank Corp now owns 315,624 shares of the financial services provider’s stock valued at $26,535,000 after buying an additional 311,689 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Western Alliance Bancorporation by 35.8% during the 3rd quarter. Bank of Montreal Can now owns 1,179,518 shares of the financial services provider’s stock worth $102,288,000 after acquiring an additional 310,826 shares during the period. Russell Investments Group Ltd. increased its holdings in 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 worth $25,019,000 after acquiring an additional 253,622 shares during the last quarter. Finally, Smead Capital Management Inc. raised its stake in Western Alliance Bancorporation by 19.2% in 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 period. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Piper Sandler cut their price objective on shares of Western Alliance Bancorporation from $94.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Wells Fargo & Company raised shares of Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $83.00 to $79.00 in a report on Monday, March 9th. Barclays cut their price target on Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. reduced their price target on Western Alliance Bancorporation from $105.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.93.

Western Alliance Bancorporation Stock Up 0.4%

Shares of NYSE:WAL opened at $78.74 on Friday. The firm has a fifty day moving average price of $75.91 and a two-hundred day moving average price of $81.72. The company has a market cap of $8.60 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 0.60 and a beta of 1.37. 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 has a one year low of $65.82 and a one year high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.74. The company had revenue of $968.40 million for the quarter, compared to the consensus estimate of $944.18 million. Western Alliance Bancorporation had a return on equity of 13.58% and a net margin of 17.03%.The firm’s revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.79 earnings per share. Analysts anticipate that Western Alliance Bancorporation will post 9.8 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, May 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 19.56%.

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.