Angel Oak Capital Advisors LLC Buys New Stake in Western Alliance Bancorporation (NYSE:WAL)

Angel Oak Capital Advisors LLC acquired a new stake in Western Alliance Bancorporation (NYSE:WAL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,000 shares of the financial services provider’s stock, valued at approximately $919,000. Western Alliance Bancorporation comprises approximately 1.2% of Angel Oak Capital Advisors LLC’s investment portfolio, making the stock its 16th largest position.

Several other hedge funds also recently added to or reduced their stakes in WAL. Fifth Third Bancorp raised its position in shares of Western Alliance Bancorporation by 70.1% in the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 136 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Western Alliance Bancorporation in the 3rd quarter worth approximately $31,000. Allworth Financial LP raised its stake in shares of Western Alliance Bancorporation by 115.6% during the 4th 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. Blue Trust Inc. increased its position in shares of Western Alliance Bancorporation by 58.4% during the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 187 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Western Alliance Bancorporation by 167.5% in the 3rd quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 397 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock opened at $88.64 on Tuesday. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. The business has a 50 day simple moving average of $86.85 and a 200 day simple moving average of $85.29.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. On average, equities research analysts anticipate that Western Alliance Bancorporation will post 8.99 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.71%. Western Alliance Bancorporation’s dividend payout ratio is presently 21.41%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. DA Davidson lowered their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Monday. UBS Group began coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a “buy” rating and a $115.00 target price on the stock. Barclays increased their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company decreased their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.07.

Western Alliance Bancorporation 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.