West Family Investments Inc. Takes Position in Western Alliance Bancorporation $WAL

West Family Investments Inc. acquired a new position in Western Alliance Bancorporation (NYSE:WAL) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,206 shares of the financial services provider’s stock, valued at approximately $592,000.

Several other hedge funds have also modified their holdings of the company. NewEdge Advisors LLC lifted its position in Western Alliance Bancorporation by 71.2% during the first quarter. NewEdge Advisors LLC now owns 7,815 shares of the financial services provider’s stock valued at $600,000 after acquiring an additional 3,249 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Western Alliance Bancorporation by 513.5% in the first quarter. Jones Financial Companies Lllp now owns 1,730 shares of the financial services provider’s stock valued at $133,000 after buying an additional 1,448 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Western Alliance Bancorporation by 24.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 111,883 shares of the financial services provider’s stock valued at $8,596,000 after acquiring an additional 21,642 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Western Alliance Bancorporation by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,529 shares of the financial services provider’s stock worth $26,701,000 after purchasing an additional 35,276 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Western Alliance Bancorporation by 11.3% during the second quarter. Cetera Investment Advisers now owns 7,017 shares of the financial services provider’s stock worth $547,000 after purchasing an additional 713 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WAL. Stifel Nicolaus set a $95.00 price objective on Western Alliance Bancorporation in a report on Thursday, July 23rd. Wells Fargo & Company lifted their target price on shares of Western Alliance Bancorporation from $79.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Truist Financial lifted their price target on Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Stephens set a $95.00 price objective on shares of Western Alliance Bancorporation and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, Mizuho set a $96.00 target price on shares of Western Alliance Bancorporation in a research note on Thursday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.47.

Western Alliance Bancorporation Trading Down 1.2%

Shares of WAL stock opened at $79.94 on Wednesday. The firm has a market cap of $8.72 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 0.78 and a beta of 1.33. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.86 and a quick ratio of 0.81. Western Alliance Bancorporation has a 1-year low of $65.82 and a 1-year high of $97.23. The company has a 50-day moving average of $81.09 and a two-hundred day moving average of $78.95.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.36 EPS for the quarter, hitting analysts’ consensus estimates of $2.36. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The company had revenue of $995.70 million for the quarter, compared to analysts’ expectations of $980.53 million. During the same period in the prior year, the firm earned $2.07 earnings per share. The firm’s revenue was up 17.7% compared to the same quarter last year. On average, analysts predict that Western Alliance Bancorporation will post 9.16 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, August 13th. Western Alliance Bancorporation’s dividend payout ratio is presently 18.92%.

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.