Perpetual Ltd Acquires 199,591 Shares of Western Alliance Bancorporation $WAL

Perpetual Ltd boosted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 55.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 557,894 shares of the financial services provider’s stock after acquiring an additional 199,591 shares during the quarter. Perpetual Ltd’s holdings in Western Alliance Bancorporation were worth $46,902,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Silver Oak Securities Incorporated increased its stake in shares of Western Alliance Bancorporation by 1.0% during the third quarter. Silver Oak Securities Incorporated now owns 14,318 shares of the financial services provider’s stock valued at $1,242,000 after buying an additional 138 shares during the period. EJF Capital LLC raised its holdings in shares of Western Alliance Bancorporation by 2.5% in the second quarter. EJF Capital LLC now owns 6,223 shares of the financial services provider’s stock valued at $485,000 after acquiring an additional 149 shares in the last quarter. Salzhauer Michael lifted its stake in Western Alliance Bancorporation by 0.3% in the third quarter. Salzhauer Michael now owns 44,815 shares of the financial services provider’s stock worth $3,886,000 after acquiring an additional 152 shares during the period. GAMMA Investing LLC lifted its stake in Western Alliance Bancorporation by 6.1% in the fourth quarter. GAMMA Investing LLC now owns 2,732 shares of the financial services provider’s stock worth $230,000 after acquiring an additional 158 shares during the period. Finally, Ethic Inc. grew its holdings in Western Alliance Bancorporation by 2.4% during the 3rd quarter. Ethic Inc. now owns 6,955 shares of the financial services provider’s stock worth $603,000 after acquiring an additional 161 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

NYSE WAL opened at $72.10 on Friday. The company has a market cap of $7.92 billion, a price-to-earnings ratio of 8.26, a PEG ratio of 0.63 and a beta of 1.37. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.85 and a quick ratio of 0.80. The stock’s fifty day moving average price is $81.36 and its 200 day moving average price is $82.68. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.19. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.The firm had revenue of $890.80 million during the quarter, compared to analysts’ expectations of $912.69 million. During the same period last year, the business posted $1.95 earnings per share. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, equities research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 20th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, February 20th. Western Alliance Bancorporation’s dividend payout ratio is 19.24%.

Wall Street Analysts Forecast Growth

WAL has been the topic of several research reports. TD Cowen lowered shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating and set a $83.00 price objective on the stock. in a report on Monday, March 9th. Wells Fargo & Company upgraded Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $83.00 to $79.00 in a report on Monday, March 9th. Barclays dropped their target price on Western Alliance Bancorporation from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. Citigroup cut their price target on Western Alliance Bancorporation from $107.00 to $103.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Finally, iA Financial set a $101.00 price objective on Western Alliance Bancorporation in a research note on Wednesday, January 28th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and a consensus price target of $95.13.

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.