Western Alliance Bancorporation (NYSE:WAL) Shares Bought by Harbor Advisors LLC

Harbor Advisors LLC grew its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 40.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,000 shares of the financial services provider’s stock after purchasing an additional 2,000 shares during the quarter. Harbor Advisors LLC’s holdings in Western Alliance Bancorporation were worth $585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new position in shares of Western Alliance Bancorporation during the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC grew its position in shares of Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 117 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 136 shares during the last quarter. Allworth Financial LP grew its position in shares of Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 215 shares during the last quarter. Finally, Atala Financial Inc purchased a new position in shares of Western Alliance Bancorporation during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WAL shares. Stephens restated an “overweight” rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. UBS Group started coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price objective on the stock. DA Davidson lowered their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Piper Sandler lifted their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and a consensus price target of $98.07.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock opened at $77.39 on Friday. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The business has a fifty day moving average of $85.08 and a two-hundred day moving average of $86.00. The company has a market cap of $8.55 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. As a group, analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.41%.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.