Western Alliance Bancorporation $WAL Stake Decreased by LHM Inc.

LHM Inc. cut its stake in Western Alliance Bancorporation (NYSE:WAL) by 6.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 108,880 shares of the financial services provider’s stock after selling 7,452 shares during the period. Western Alliance Bancorporation comprises approximately 3.4% of LHM Inc.’s portfolio, making the stock its 8th largest position. LHM Inc.’s holdings in Western Alliance Bancorporation were worth $9,154,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Ritholtz Wealth Management lifted its stake in Western Alliance Bancorporation by 4.6% during the fourth quarter. Ritholtz Wealth Management now owns 3,030 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 133 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Western Alliance Bancorporation by 5.2% during the 4th quarter. Truist Financial Corp now owns 3,102 shares of the financial services provider’s stock valued at $261,000 after buying an additional 152 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Western Alliance Bancorporation by 39.3% during the 4th quarter. Allworth Financial LP now owns 557 shares of the financial services provider’s stock valued at $47,000 after buying an additional 157 shares in the last quarter. GAMMA Investing LLC lifted its position in Western Alliance Bancorporation by 6.1% in the 4th quarter. GAMMA Investing LLC now owns 2,732 shares of the financial services provider’s stock worth $230,000 after buying an additional 158 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Western Alliance Bancorporation by 10.0% in the fourth quarter. Signaturefd LLC now owns 1,899 shares of the financial services provider’s stock worth $160,000 after buying an additional 173 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on WAL. JPMorgan Chase & Co. decreased their price target on shares of Western Alliance Bancorporation from $105.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Jefferies Financial Group reaffirmed an “overweight” rating and set a $105.00 target price on shares of Western Alliance Bancorporation in a report on Friday, March 6th. UBS Group lifted their target price on shares of Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Citigroup lowered their price target on shares of Western Alliance Bancorporation from $103.00 to $96.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Finally, National Alliance Securities reaffirmed a “buy” rating on shares of Western Alliance Bancorporation in a research note on Friday, March 6th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.93.

Western Alliance Bancorporation Stock Up 0.4%

Shares of Western Alliance Bancorporation stock opened at $78.74 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 0.86. Western Alliance Bancorporation has a 52-week low of $65.82 and a 52-week high of $97.23. The company’s 50 day moving average price is $75.91 and its 200-day moving average price is $81.72. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 9.17, a P/E/G ratio of 0.60 and a beta of 1.37.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.74. The company had revenue of $968.40 million during the quarter, compared to analyst estimates of $944.18 million. Western Alliance Bancorporation had a net margin of 17.03% and a return on equity of 13.58%. The firm’s revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.79 EPS. Equities research analysts forecast that Western Alliance Bancorporation will post 9.8 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 14th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, May 14th. Western Alliance Bancorporation’s dividend payout ratio is 19.56%.

Western Alliance Bancorporation Company 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.