MetLife Investment Management LLC Has $5.13 Million Position in Western Alliance Bancorporation (NYSE:WAL)

MetLife Investment Management LLC lifted its position in Western Alliance Bancorporation (NYSE:WAL) by 9.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 61,453 shares of the financial services provider’s stock after purchasing an additional 5,103 shares during the period. MetLife Investment Management LLC’s holdings in Western Alliance Bancorporation were worth $5,134,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in Western Alliance Bancorporation in the fourth quarter worth $26,000. Smartleaf Asset Management LLC increased its position in shares of Western Alliance Bancorporation by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock valued at $27,000 after buying an additional 117 shares in the last quarter. Fifth Third Bancorp raised its stake in Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after buying an additional 136 shares during the period. Allworth Financial LP lifted its holdings in Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 215 shares in the last quarter. Finally, Atala Financial Inc acquired a new position in Western Alliance Bancorporation in the fourth quarter valued at about $44,000. Institutional investors own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company decreased their price objective on Western Alliance Bancorporation from $95.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. DA Davidson lowered their price objective on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday. Piper Sandler raised their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Barclays reduced their target price on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Stephens reissued an “overweight” rating and issued a $92.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.62.

Western Alliance Bancorporation Trading Up 5.1 %

Shares of Western Alliance Bancorporation stock opened at $68.67 on Thursday. Western Alliance Bancorporation has a 1 year low of $56.70 and a 1 year high of $98.10. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 9.67, a P/E/G ratio of 0.63 and a beta of 1.29. The business has a fifty day simple moving average of $75.34 and a two-hundred day simple moving average of $83.53. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.01. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. The company had revenue of $790.10 million during the quarter, compared to analysts’ expectations of $792.25 million. During the same quarter last year, the company posted $1.72 EPS. Research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s payout ratio is 21.41%.

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.