Versant Capital Management Inc Grows Holdings in Western Alliance Bancorporation (NYSE:WAL)

Versant Capital Management Inc raised its position in Western Alliance Bancorporation (NYSE:WALFree Report) by 13.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,325 shares of the financial services provider’s stock after buying an additional 157 shares during the period. Versant Capital Management Inc’s holdings in Western Alliance Bancorporation were worth $111,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of WAL. Retirement Systems of Alabama purchased a new position in Western Alliance Bancorporation in the third quarter valued at about $11,461,000. Franklin Resources Inc. grew its stake in Western Alliance Bancorporation by 17.0% in the third quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider’s stock worth $27,970,000 after purchasing an additional 45,764 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter valued at approximately $5,099,000. BNP Paribas Financial Markets raised its position in shares of Western Alliance Bancorporation by 1,091.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider’s stock valued at $2,947,000 after acquiring an additional 31,214 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in Western Alliance Bancorporation by 41.4% during the second quarter. Bank of Montreal Can now owns 596,262 shares of the financial services provider’s stock worth $37,475,000 after purchasing an additional 174,682 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $84.40 on Friday. The company has a 50-day moving average of $88.71 and a 200-day moving average of $81.07. The firm has a market cap of $9.29 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10.

Western Alliance Bancorporation (NYSE:WALGet Free Report) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10). Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. The business had revenue of $833.10 million during the quarter, compared to analyst estimates of $811.40 million. Analysts forecast that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s payout ratio is presently 23.46%.

Analyst Ratings Changes

A number of analysts have weighed in on WAL shares. Wedbush increased their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. cut their target price on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Piper Sandler lowered their target price on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their price objective for the stock from $83.00 to $101.00 in a report on Monday, October 7th. Finally, UBS Group began coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and an average target price of $94.75.

Check Out Our Latest Analysis on WAL

About Western Alliance Bancorporation

(Free Report)

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.

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Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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