Nicholas Investment Partners LP Has $9.04 Million Stake in Western Alliance Bancorporation $WAL

Nicholas Investment Partners LP trimmed its holdings in Western Alliance Bancorporation (NYSE:WAL) by 22.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,520 shares of the financial services provider’s stock after selling 31,358 shares during the period. Nicholas Investment Partners LP owned 0.10% of Western Alliance Bancorporation worth $9,039,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Clearstead Advisors LLC lifted its position in shares of Western Alliance Bancorporation by 144.6% in the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock valued at $35,000 after buying an additional 243 shares during the last quarter. Community Bank N.A. acquired a new stake in Western Alliance Bancorporation during the 3rd quarter worth approximately $37,000. Smartleaf Asset Management LLC lifted its holdings in Western Alliance Bancorporation by 113.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 443 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 235 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth approximately $38,000. Finally, Leonteq Securities AG acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth approximately $44,000. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Trading Up 1.4%

Shares of WAL opened at $83.47 on Friday. Western Alliance Bancorporation has a 52-week low of $65.82 and a 52-week high of $97.23. The business’s fifty day moving average is $78.46 and its 200-day moving average is $81.93. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 0.86. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 0.64 and a beta of 1.34.

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

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.68 annualized dividend and a dividend yield of 2.0%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 19.56%.

Insider Buying and Selling at Western Alliance Bancorporation

In related news, CAO Ben Mucha sold 5,946 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $81.00, for a total transaction of $481,626.00. Following the sale, the chief accounting officer owned 3,485 shares of the company’s stock, valued at $282,285. This trade represents a 63.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WAL. JPMorgan Chase & Co. dropped their price target on Western Alliance Bancorporation from $105.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. UBS Group lifted their price target on Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Citigroup dropped their price target on Western Alliance Bancorporation from $103.00 to $96.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Jefferies Financial Group reissued an “overweight” rating and set a $105.00 price target on shares of Western Alliance Bancorporation in a report on Friday, March 6th. Finally, Piper Sandler dropped their price target on Western Alliance Bancorporation from $94.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and an average price target of $92.93.

Western Alliance Bancorporation Company 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.