JCSD Capital LLC Makes New $857,000 Investment in Western Alliance Bancorporation $WAL

JCSD Capital LLC purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,988 shares of the financial services provider’s stock, valued at approximately $857,000. Western Alliance Bancorporation comprises approximately 1.1% of JCSD Capital LLC’s holdings, making the stock its 14th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its position in Western Alliance Bancorporation by 6.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,317 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 136 shares during the period. National Bank of Canada FI raised its stake in shares of Western Alliance Bancorporation by 22.7% during the first quarter. National Bank of Canada FI now owns 763 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 141 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in Western Alliance Bancorporation by 2.9% in the first quarter. D.A. Davidson & CO. now owns 6,056 shares of the financial services provider’s stock worth $465,000 after purchasing an additional 169 shares during the period. Crossmark Global Holdings Inc. grew its position in Western Alliance Bancorporation by 3.4% in the 1st quarter. Crossmark Global Holdings Inc. now owns 5,993 shares of the financial services provider’s stock valued at $460,000 after buying an additional 197 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Western Alliance Bancorporation by 14.8% during the 2nd quarter. Signaturefd LLC now owns 1,654 shares of the financial services provider’s stock valued at $129,000 after buying an additional 213 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WAL has been the topic of a number of research analyst reports. Citigroup reiterated a “neutral” rating on shares of Western Alliance Bancorporation in a research note on Tuesday, August 26th. Cowen assumed coverage on Western Alliance Bancorporation in a report on Wednesday, September 24th. They issued a “buy” rating for the company. Piper Sandler lifted their price objective on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. JPMorgan Chase & Co. increased their target price on shares of Western Alliance Bancorporation from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Finally, National Bankshares set a $118.00 price target on shares of Western Alliance Bancorporation in a research report on Wednesday, September 24th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.53.

Western Alliance Bancorporation Trading Up 1.5%

NYSE:WAL opened at $79.89 on Friday. The stock has a market cap of $8.79 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 0.52 and a beta of 1.45. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.79. The stock’s 50-day moving average is $83.56 and its two-hundred day moving average is $79.81.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $1.91 EPS for the quarter. The business had revenue of $718.00 million during the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 12.93%. As a group, equities research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, November 13th. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 20.77%.

Insider Buying and Selling

In other Western Alliance Bancorporation news, CFO Dale Gibbons acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were purchased at an average price of $77.00 per share, with a total value of $308,000.00. Following the completion of the transaction, the chief financial officer owned 300,358 shares in the company, valued at $23,127,566. The trade was a 1.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.68% of the company’s stock.

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.