Dynamic Technology Lab Private Ltd Buys Shares of 5,200 Western Alliance Bancorporation (NYSE:WAL)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Western Alliance Bancorporation (NYSE:WAL) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 5,200 shares of the financial services provider’s stock, valued at approximately $434,000.

Several other institutional investors and hedge funds have also made changes to their positions in WAL. Wells Fargo & Company MN raised its position in Western Alliance Bancorporation by 15.8% during the fourth quarter. Wells Fargo & Company MN now owns 35,217 shares of the financial services provider’s stock worth $2,942,000 after acquiring an additional 4,797 shares during the last quarter. Riverwater Partners LLC increased its position in Western Alliance Bancorporation by 2.6% during the fourth quarter. Riverwater Partners LLC now owns 22,904 shares of the financial services provider’s stock worth $1,913,000 after buying an additional 575 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Western Alliance Bancorporation by 16.8% in the fourth quarter. Franklin Resources Inc. now owns 367,985 shares of the financial services provider’s stock worth $30,741,000 after acquiring an additional 53,013 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Western Alliance Bancorporation by 12.2% in the fourth quarter. Alliancebernstein L.P. now owns 215,649 shares of the financial services provider’s stock valued at $18,015,000 after acquiring an additional 23,374 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in Western Alliance Bancorporation by 14.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 10,965 shares of the financial services provider’s stock worth $916,000 after purchasing an additional 1,393 shares in the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on WAL. StockNews.com upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. DA Davidson lowered their price objective on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company decreased their price target on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Piper Sandler raised their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Stephens restated an “overweight” rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.40.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $60.88 on Wednesday. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 0.63 and a beta of 1.29. The business’s 50 day moving average is $80.68 and its two-hundred day moving average is $85.09.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly 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%. Analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid 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 2.50%. Western Alliance Bancorporation’s payout ratio is 21.41%.

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.