Quantbot Technologies LP Has $7.48 Million Position in Western Alliance Bancorporation $WAL

Quantbot Technologies LP cut its position in Western Alliance Bancorporation (NYSE:WAL) by 32.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 86,273 shares of the financial services provider’s stock after selling 41,526 shares during the period. Quantbot Technologies LP’s holdings in Western Alliance Bancorporation were worth $7,482,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Western Alliance Bancorporation in the third quarter valued at approximately $26,000. Quent Capital LLC acquired a new stake in Western Alliance Bancorporation during the 3rd quarter worth approximately $26,000. Salomon & Ludwin LLC bought a new stake in Western Alliance Bancorporation during the 3rd quarter worth approximately $27,000. Root Financial Partners LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at approximately $27,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Western Alliance Bancorporation by 113.0% during the third quarter. Smartleaf Asset Management LLC now owns 443 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 235 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Down 10.6%

Shares of Western Alliance Bancorporation stock opened at $80.49 on Friday. The stock’s 50-day moving average is $89.32 and its 200 day moving average is $85.40. Western Alliance Bancorporation has a one year low of $57.05 and a one year high of $97.23. The firm has a market cap of $8.84 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 0.68 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 0.79.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.19. The firm had revenue of $980.90 million for the quarter, compared to analyst estimates of $912.69 million. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.The company’s revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.95 earnings per share. Equities research analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, February 20th. Western Alliance Bancorporation’s payout ratio is presently 19.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Western Alliance Bancorporation from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $105.00 target price (up from $100.00) on shares of Western Alliance Bancorporation in a report on Wednesday, January 28th. DA Davidson increased their price target on Western Alliance Bancorporation from $104.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Citigroup raised their price objective on Western Alliance Bancorporation from $104.00 to $107.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, TD Cowen reduced their target price on Western Alliance Bancorporation from $109.00 to $108.00 and set a “buy” rating on the stock in a report on Wednesday, January 7th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.73.

About Western Alliance Bancorporation

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.