Parkside Financial Bank & Trust Acquires 462 Shares of Western Alliance Bancorporation (NYSE:WAL)

Parkside Financial Bank & Trust boosted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 49.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,402 shares of the financial services provider’s stock after buying an additional 462 shares during the period. Parkside Financial Bank & Trust’s holdings in Western Alliance Bancorporation were worth $92,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WAL. AE Wealth Management LLC bought a new position in Western Alliance Bancorporation in the 3rd quarter valued at approximately $1,173,000. Handelsbanken Fonder AB lifted its position in Western Alliance Bancorporation by 9.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 17,360 shares of the financial services provider’s stock valued at $798,000 after acquiring an additional 1,500 shares in the last quarter. Peregrine Capital Management LLC bought a new position in Western Alliance Bancorporation in the 3rd quarter valued at approximately $9,941,000. Raymond James Financial Services Advisors Inc. lifted its position in Western Alliance Bancorporation by 5.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,880 shares of the financial services provider’s stock valued at $408,000 after acquiring an additional 487 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Western Alliance Bancorporation by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 636,814 shares of the financial services provider’s stock valued at $29,274,000 after buying an additional 18,178 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WAL has been the subject of a number of research reports. Stephens reiterated an “overweight” rating and set a $82.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, April 19th. Truist Financial decreased their target price on shares of Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Monday. DA Davidson decreased their target price on shares of Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating for the company in a research note on Monday. Keefe, Bruyette & Woods decreased their target price on shares of Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and an average price target of $70.56.

Western Alliance Bancorporation Trading Down 1.3 %

NYSE:WAL opened at $58.58 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 8.54 and a beta of 1.47. Western Alliance Bancorporation has a one year low of $11.35 and a one year high of $70.23. The business has a fifty day moving average price of $59.33 and a 200-day moving average price of $56.85.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. During the same quarter in the prior year, the firm posted $2.30 EPS. Sell-side analysts forecast that Western Alliance Bancorporation will post 7.67 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.53%. The ex-dividend date was Thursday, February 15th. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%.

About Western Alliance Bancorporation

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.