Amalgamated Bank Purchases 177 Shares of Western Alliance Bancorporation (NYSE:WAL)

Amalgamated Bank raised its position in Western Alliance Bancorporation (NYSE:WAL) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,097 shares of the financial services provider’s stock after buying an additional 177 shares during the quarter. Amalgamated Bank’s holdings in Western Alliance Bancorporation were worth $4,352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its stake in Western Alliance Bancorporation by 46.2% in the 3rd quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock worth $388,197,000 after acquiring an additional 1,418,472 shares during the last quarter. FMR LLC grew its position in shares of Western Alliance Bancorporation by 93.3% in the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock worth $241,568,000 after buying an additional 1,347,921 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Western Alliance Bancorporation by 6,342.7% in the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock worth $44,522,000 after buying an additional 506,778 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth approximately $39,230,000. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth approximately $38,386,000. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Up 1.0 %

Shares of NYSE WAL opened at $87.00 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $9.58 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.63 and a beta of 1.46. The stock’s fifty day simple moving average is $86.80 and its two-hundred day simple moving average is $86.13. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.75%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.41%.

Analysts Set New Price Targets

WAL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. UBS Group started coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price target for the company. Barclays lifted their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Stephens reissued an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Finally, Piper Sandler boosted their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Company 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.