2,550 Shares in Western Alliance Bancorporation (NYSE:WAL) Acquired by Delta Capital Management LLC

Delta Capital Management LLC bought a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) during the fourth quarter, Holdings Channel.com reports. The fund bought 2,550 shares of the financial services provider’s stock, valued at approximately $213,000.

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in shares of Western Alliance Bancorporation in the third quarter worth about $31,000. ORG Wealth Partners LLC bought a new stake in Western Alliance Bancorporation during the 3rd quarter worth approximately $33,000. UMB Bank n.a. lifted its stake in Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 249 shares in the last quarter. Blue Trust Inc. boosted its holdings in Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 187 shares during the period. Finally, Covestor Ltd grew its position in shares of Western Alliance Bancorporation by 167.5% during the 3rd quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 397 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Analysts Set New Price Targets

WAL has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Truist Financial lowered their price target on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Stephens restated an “overweight” rating and issued a $102.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday, October 18th. Barclays lifted their target price on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their price target for the stock from $83.00 to $101.00 in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.31.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $89.61 on Friday. The company has a 50-day simple moving average of $88.11 and a two-hundred day simple moving average of $82.77. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10. The firm has a market cap of $9.86 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.75 and a beta of 1.46. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The company had revenue of $833.10 million during the quarter, compared to the consensus estimate of $811.40 million. On average, equities analysts forecast that Western Alliance Bancorporation will post 7.11 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Friday, November 15th. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio is 23.46%.

Western Alliance Bancorporation Company 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.