iSAM Funds UK Ltd Makes New Investment in Western Alliance Bancorporation $WAL

iSAM Funds UK Ltd bought a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) in the 2nd quarter, HoldingsChannel reports. The fund bought 22,476 shares of the financial services provider’s stock, valued at approximately $1,753,000.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Western Alliance Bancorporation by 6.2% during the second quarter. GAMMA Investing LLC now owns 2,317 shares of the financial services provider’s stock valued at $181,000 after buying an additional 136 shares during the period. National Bank of Canada FI boosted its stake in Western Alliance Bancorporation by 22.7% in the first quarter. National Bank of Canada FI now owns 763 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 141 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Western Alliance Bancorporation by 4.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,833 shares of the financial services provider’s stock valued at $377,000 after acquiring an additional 188 shares during the period. Signaturefd LLC increased its stake in shares of Western Alliance Bancorporation by 14.8% during the 2nd quarter. Signaturefd LLC now owns 1,654 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 213 shares during the last quarter. Finally, Scotia Capital Inc. raised its holdings in shares of Western Alliance Bancorporation by 1.3% in the 2nd quarter. Scotia Capital Inc. now owns 18,498 shares of the financial services provider’s stock worth $1,443,000 after purchasing an additional 238 shares during the period. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $84.21 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 0.85. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $95.00. The firm has a market cap of $9.27 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 0.59 and a beta of 1.37. The business’s fifty day moving average is $79.71 and its 200 day moving average is $80.90.

Western Alliance Bancorporation (NYSE:WAL) last issued its 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 return on equity of 12.93% and a net margin of 17.14%. Research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Thursday, November 13th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, November 13th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 20.77%.

Insider Buying and Selling

In other news, CFO Dale Gibbons bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were acquired at an average price of $77.00 per share, with a total value of $308,000.00. Following the acquisition, the chief financial officer owned 300,358 shares of the company’s stock, valued at approximately $23,127,566. The trade was a 1.35% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.75% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. National Bankshares set a $118.00 price objective on Western Alliance Bancorporation in a report on Wednesday, September 24th. UBS Group dropped their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. JPMorgan Chase & Co. increased their price target on Western Alliance Bancorporation from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of Western Alliance Bancorporation in a research note on Tuesday, December 2nd. Finally, Citigroup reaffirmed a “neutral” rating on shares of Western Alliance Bancorporation in a report on Tuesday, August 26th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.53.

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.