SG Americas Securities LLC Purchases Shares of 14,275 Western Alliance Bancorporation (NYSE:WAL)

SG Americas Securities LLC acquired a new stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,275 shares of the financial services provider's stock, valued at approximately $1,097,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. New York State Teachers Retirement System grew its stake in Western Alliance Bancorporation by 11.5% in the fourth quarter. New York State Teachers Retirement System now owns 20,331 shares of the financial services provider's stock valued at $1,698,000 after acquiring an additional 2,093 shares during the period. Rhumbline Advisers grew its position in shares of Western Alliance Bancorporation by 0.4% in the 4th quarter. Rhumbline Advisers now owns 301,937 shares of the financial services provider's stock valued at $25,224,000 after purchasing an additional 1,352 shares during the period. Principal Securities Inc. increased its stake in Western Alliance Bancorporation by 338.1% during the 4th quarter. Principal Securities Inc. now owns 679 shares of the financial services provider's stock worth $57,000 after purchasing an additional 524 shares in the last quarter. Allworth Financial LP raised its holdings in Western Alliance Bancorporation by 115.6% during the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock worth $37,000 after buying an additional 215 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its holdings in Western Alliance Bancorporation by 0.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 36,258 shares of the financial services provider's stock worth $3,029,000 after buying an additional 327 shares during the period. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Stock Up 2.2%

Shares of WAL stock traded up $1.58 on Thursday, hitting $72.37. The stock had a trading volume of 640,441 shares, compared to its average volume of 1,216,694. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.88 and a quick ratio of 0.83. The business has a 50 day moving average of $71.77 and a 200 day moving average of $79.38. Western Alliance Bancorporation has a 12-month low of $57.05 and a 12-month high of $98.10. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 0.53 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.01. Western Alliance Bancorporation had a net margin of 15.80% and a return on equity of 12.57%. The company had revenue of $790.10 million during the quarter, compared to analyst estimates of $792.25 million. During the same quarter in the prior year, the business earned $1.72 earnings per share. As a group, analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 2.10%. Western Alliance Bancorporation's dividend payout ratio is currently 20.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WAL shares. Royal Bank Of Canada lowered their target price on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Wall Street Zen upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Barclays reduced their price target on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Stephens reiterated an "overweight" rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Finally, Truist Financial began coverage on shares of Western Alliance Bancorporation in a report on Tuesday, May 13th. They set a "buy" rating and a $92.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $97.77.

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.