SBI Securities Co. Ltd. Invests $26,000 in Western Alliance Bancorporation (NYSE:WAL)

SBI Securities Co. Ltd. purchased a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 307 shares of the financial services provider’s stock, valued at approximately $26,000.

A number of other large investors have also made changes to their positions in the business. Covestor Ltd increased its position in shares of Western Alliance Bancorporation by 167.5% in the 3rd quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 397 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Western Alliance Bancorporation in the 3rd quarter valued at $473,000. Wolverine Asset Management LLC acquired a new position in shares of Western Alliance Bancorporation in the 3rd quarter valued at $207,000. Venturi Wealth Management LLC increased its position in shares of Western Alliance Bancorporation by 575.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,031 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 2,582 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of Western Alliance Bancorporation in the 3rd quarter valued at $254,000. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Trading Down 1.5 %

WAL stock opened at $74.63 on Friday. The company’s 50-day simple moving average is $85.67 and its 200-day simple moving average is $86.13. 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 has a 52-week low of $53.75 and a 52-week high of $98.10. The firm has a market cap of $8.24 billion, a P/E ratio of 10.51, a PEG ratio of 0.63 and a beta of 1.43.

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

Western Alliance Bancorporation Announces Dividend

The company also recently announced 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 2.04%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s payout ratio is currently 21.41%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WAL. UBS Group began coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 target price on the stock. Wells Fargo & Company cut their target price 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. Stephens reissued an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Piper Sandler upped their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.07.

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.