West Family Investments Inc. Takes Position in Western Alliance Bancorporation $WAL

West Family Investments Inc. purchased a new stake in Western Alliance Bancorporation (NYSE:WAL) during the second quarter, HoldingsChannel.com reports. The fund purchased 7,206 shares of the financial services provider’s stock, valued at approximately $592,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Western Alliance Bancorporation during the second quarter worth about $926,898,000. California State Teachers Retirement System grew its position in Western Alliance Bancorporation by 7,896.6% in the 2nd quarter. California State Teachers Retirement System now owns 9,943,405 shares of the financial services provider’s stock valued at $817,348,000 after buying an additional 9,819,060 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Western Alliance Bancorporation by 9.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,746,867 shares of the financial services provider’s stock valued at $735,350,000 after buying an additional 777,369 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Western Alliance Bancorporation by 7.9% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,450,408 shares of the financial services provider’s stock valued at $542,286,000 after buying an additional 470,492 shares during the period. Finally, Invesco Ltd. increased its stake in Western Alliance Bancorporation by 3.4% in the 3rd quarter. Invesco Ltd. now owns 6,016,027 shares of the financial services provider’s stock valued at $521,710,000 after buying an additional 197,854 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WAL. Piper Sandler increased their target price on Western Alliance Bancorporation from $92.00 to $97.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Stephens set a $95.00 target price on shares of Western Alliance Bancorporation and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. DA Davidson set a $36.00 price target on Western Alliance Bancorporation in a report on Wednesday, July 22nd. Truist Financial boosted their target price on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, Citigroup raised their price target on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.47.

Western Alliance Bancorporation Stock Down 1.2%

WAL opened at $79.94 on Wednesday. Western Alliance Bancorporation has a 1 year low of $65.82 and a 1 year high of $97.23. The firm has a 50 day moving average price of $81.09 and a 200 day moving average price of $78.95. The company has a market cap of $8.72 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 0.78 and a beta of 1.33. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.81 and a current ratio of 0.86.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share for the quarter, meeting the consensus estimate of $2.36. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.40%. The business had revenue of $995.70 million for the quarter, compared to analyst estimates of $980.53 million. During the same quarter in the previous year, the business posted $2.07 EPS. The business’s quarterly revenue was up 17.7% on a year-over-year basis. Sell-side analysts expect that Western Alliance Bancorporation will post 9.16 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were paid a dividend of $0.42 per share. The ex-dividend date was Thursday, August 13th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 18.92%.

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.