Driehaus Capital Management LLC Boosts Position in Western Alliance Bancorporation (NYSE:WAL)

Driehaus Capital Management LLC boosted its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 685,010 shares of the financial services provider's stock after acquiring an additional 33,195 shares during the quarter. Driehaus Capital Management LLC owned about 0.62% of Western Alliance Bancorporation worth $57,226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in WAL. Ashton Thomas Private Wealth LLC boosted its stake in shares of Western Alliance Bancorporation by 3.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider's stock valued at $260,000 after purchasing an additional 114 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Western Alliance Bancorporation by 56.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 117 shares during the period. Fifth Third Bancorp lifted its position in shares of Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 136 shares during the period. Pacer Advisors Inc. lifted its position in shares of Western Alliance Bancorporation by 1.0% during the 4th quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider's stock valued at $1,359,000 after acquiring an additional 163 shares during the period. Finally, CIBC Asset Management Inc lifted its position in shares of Western Alliance Bancorporation by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,387 shares of the financial services provider's stock valued at $283,000 after acquiring an additional 167 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Trading Up 1.1%

WAL stock traded up $0.86 during mid-day trading on Tuesday, hitting $80.06. 537,366 shares of the company were exchanged, compared to its average volume of 1,217,236. 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 capitalization of $8.84 billion, a P/E ratio of 11.28, a PEG ratio of 0.63 and a beta of 1.30. The business has a fifty day simple moving average of $71.57 and a 200-day simple moving average of $82.24. Western Alliance Bancorporation has a 12-month low of $56.70 and a 12-month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.01. The business had revenue of $790.10 million for the quarter, compared to analyst estimates of $792.25 million. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. During the same quarter in the prior year, the company earned $1.72 earnings per share. On average, equities research analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.90%. Western Alliance Bancorporation's payout ratio is 20.85%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. DA Davidson decreased their target price on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Truist Financial initiated coverage on shares of Western Alliance Bancorporation in a report on Tuesday. They set a "buy" rating and a $92.00 price objective for the company. StockNews.com downgraded shares of Western Alliance Bancorporation from a "hold" rating to a "sell" rating in a report on Monday. Finally, Stephens reiterated an "overweight" rating and issued a $92.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Western Alliance Bancorporation has a consensus rating of "Moderate Buy" and an average price target of $96.38.

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.