GFG Capital LLC Takes $298,000 Position in Western Alliance Bancorporation (NYSE:WAL)

GFG Capital LLC bought a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,570 shares of the financial services provider’s stock, valued at approximately $298,000.

Several other large investors have also recently added to or reduced their stakes in the business. Vicus Capital purchased a new position in Western Alliance Bancorporation during the fourth quarter worth about $201,000. Legato Capital Management LLC lifted its position in Western Alliance Bancorporation by 11.5% during the fourth quarter. Legato Capital Management LLC now owns 23,817 shares of the financial services provider’s stock worth $1,990,000 after buying an additional 2,465 shares during the period. Compound Global Advisors LLC purchased a new position in Western Alliance Bancorporation during the fourth quarter worth about $1,116,000. Vaughan Nelson Investment Management L.P. increased its stake in Western Alliance Bancorporation by 4.5% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider’s stock worth $157,369,000 after acquiring an additional 81,238 shares during the last quarter. Finally, Generate Investment Management Ltd increased its stake in Western Alliance Bancorporation by 0.7% during the fourth quarter. Generate Investment Management Ltd now owns 417,075 shares of the financial services provider’s stock worth $34,842,000 after acquiring an additional 2,772 shares during the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WAL has been the subject of several research analyst reports. Truist Financial dropped their price target on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, October 21st. DA Davidson dropped their price target on 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. JPMorgan Chase & Co. dropped their price target 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. StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, February 8th. Finally, Wells Fargo & Company lowered their target price on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Trading Up 1.4 %

Shares of WAL opened at $87.21 on Friday. The company has a market capitalization of $9.60 billion, a P/E ratio of 12.28, a P/E/G ratio of 0.64 and a beta of 1.46. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The stock has a 50-day moving average price of $87.05 and a 200 day moving average price of $85.15.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. Sell-side analysts forecast that Western Alliance Bancorporation will post 8.99 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.41%.

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.