Peregrine Capital Management LLC boosted its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 131,179 shares of the financial services provider’s stock after acquiring an additional 1,850 shares during the period. Peregrine Capital Management LLC’s holdings in Western Alliance Bancorporation were worth $4,968,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of WAL. Thrivent Financial for Lutherans lifted its holdings in Western Alliance Bancorporation by 2,677.1% during the first quarter. Thrivent Financial for Lutherans now owns 1,567,913 shares of the financial services provider’s stock worth $47,993,000 after acquiring an additional 1,511,454 shares in the last quarter. Norges Bank acquired a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at about $49,976,000. Nuveen Asset Management LLC raised its stake in shares of Western Alliance Bancorporation by 64.8% in the 1st quarter. Nuveen Asset Management LLC now owns 2,130,726 shares of the financial services provider’s stock valued at $65,222,000 after purchasing an additional 837,825 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd raised its stake in shares of Western Alliance Bancorporation by 5,069.4% in the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 699,829 shares of the financial services provider’s stock valued at $21,421,000 after purchasing an additional 686,291 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Western Alliance Bancorporation by 20.5% in the 1st quarter. JPMorgan Chase & Co. now owns 3,049,582 shares of the financial services provider’s stock valued at $93,346,000 after purchasing an additional 517,948 shares during the period. Hedge funds and other institutional investors own 82.89% of the company’s stock.
Several analysts have issued reports on WAL shares. Zacks Investment Research raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Friday, May 22nd. UBS Group lifted their target price on Western Alliance Bancorporation from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Wells Fargo & Co downgraded Western Alliance Bancorporation from an “overweight” rating to an “equal weight” rating and set a $34.00 target price on the stock. in a research report on Tuesday, June 2nd. Royal Bank of Canada lifted their target price on Western Alliance Bancorporation from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Finally, SunTrust Banks lowered their target price on Western Alliance Bancorporation from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $45.22.
Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.24. The firm had revenue of $319.67 million for the quarter, compared to the consensus estimate of $305.38 million. Western Alliance Bancorporation had a return on equity of 14.52% and a net margin of 32.82%. As a group, research analysts anticipate that Western Alliance Bancorporation will post 3.58 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Thursday, August 13th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 20.66%.
About Western Alliance Bancorporation
Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.
Recommended Story: How a Back-End Load Mutual Fund Works
Want to see what other hedge funds are holding WAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Alliance Bancorporation (NYSE:WAL).
Receive News & Ratings for Western Alliance Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Alliance Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.