Edgestream Partners L.P. Makes New Investment in Western Alliance Bancorporation (NYSE:WAL)

Edgestream Partners L.P. purchased a new position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 27,018 shares of the financial services provider's stock, valued at approximately $2,076,000.

Other large investors also recently bought and sold shares of the company. Point72 Europe London LLP grew its holdings in shares of Western Alliance Bancorporation by 6.6% in the 4th quarter. Point72 Europe London LLP now owns 90,643 shares of the financial services provider's stock worth $7,572,000 after acquiring an additional 5,643 shares during the last quarter. Nicholas Investment Partners LP boosted its position in Western Alliance Bancorporation by 12.7% during the fourth quarter. Nicholas Investment Partners LP now owns 174,582 shares of the financial services provider's stock valued at $14,585,000 after purchasing an additional 19,639 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Western Alliance Bancorporation by 53.3% in the first quarter. GAMMA Investing LLC now owns 2,181 shares of the financial services provider's stock worth $168,000 after buying an additional 758 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of Western Alliance Bancorporation by 24.9% in the first quarter. New York State Teachers Retirement System now owns 25,387 shares of the financial services provider's stock worth $1,950,000 after purchasing an additional 5,056 shares during the period. Finally, Focus Partners Wealth increased its stake in shares of Western Alliance Bancorporation by 5.2% in the fourth quarter. Focus Partners Wealth now owns 99,080 shares of the financial services provider's stock worth $8,277,000 after purchasing an additional 4,909 shares during the period. Institutional investors own 79.15% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on WAL. DA Davidson cut their price target on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Royal Bank Of Canada dropped their price target 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. Wells Fargo & Company lifted their target price on Western Alliance Bancorporation from $80.00 to $90.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Wall Street Zen upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, Jefferies Financial Group began coverage on Western Alliance Bancorporation in a research report on Wednesday, May 21st. They issued a "buy" rating and a $95.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $97.50.

Western Alliance Bancorporation Trading Up 2.9%

NYSE:WAL opened at $84.74 on Friday. The firm has a 50-day simple moving average of $76.95 and a 200-day simple moving average of $78.29. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.83 and a current ratio of 0.88. Western Alliance Bancorporation has a one year low of $57.05 and a one year high of $98.10. The firm has a market cap of $9.36 billion, a P/E ratio of 11.62, a P/E/G ratio of 0.59 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.07 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.03. The company had revenue of $836.21 million during the quarter, compared to analysts' expectations of $838.58 million. Western Alliance Bancorporation had a net margin of 15.80% and a return on equity of 12.57%. During the same period in the prior year, the business posted $1.75 earnings per share. Equities analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal 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 paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 20.85%.

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.

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