Edgestream Partners L.P. Purchases Shares of 27,018 Western Alliance Bancorporation (NYSE:WAL)

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

Other institutional investors and hedge funds have also recently made changes to their positions in the company. HWG Holdings LP purchased a new stake in shares of Western Alliance Bancorporation during the first quarter worth approximately $25,000. Tsfg LLC bought a new stake in Western Alliance Bancorporation during the 1st quarter valued at $33,000. UMB Bank n.a. grew its holdings in shares of Western Alliance Bancorporation by 91.5% during the first quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock valued at $78,000 after buying an additional 482 shares in 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. Finally, RiverPark Advisors LLC raised its holdings in Western Alliance Bancorporation by 14.1% in the 4th quarter. RiverPark Advisors LLC now owns 2,041 shares of the financial services provider's stock valued at $171,000 after acquiring an additional 253 shares in the last quarter. Institutional investors own 79.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on WAL shares. Stephens reiterated an "overweight" rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Piper Sandler lifted their target price on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an "overweight" rating in a research note on Monday. Jefferies Financial Group assumed coverage on shares of Western Alliance Bancorporation in a report on Wednesday, May 21st. They issued a "buy" rating and a $95.00 price objective for the company. Citigroup raised their target price on shares of Western Alliance Bancorporation from $91.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, DA Davidson boosted their target price on shares of Western Alliance Bancorporation from $90.00 to $98.00 and gave the company a "buy" rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $96.71.

Western Alliance Bancorporation Stock Performance

WAL stock traded down $1.07 during trading hours on Monday, reaching $80.17. The stock had a trading volume of 1,251,277 shares, compared to its average volume of 1,199,691. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10. The stock has a market capitalization of $8.85 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 0.58 and a beta of 1.29. The stock has a 50-day simple moving average of $77.09 and a 200 day simple moving average of $78.21. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.85 and a quick ratio of 0.81.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.03. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. The business had revenue of $836.21 million for the quarter, compared to analysts' expectations of $838.58 million. During the same quarter in the prior year, the business earned $1.75 EPS. Analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio is currently 19.97%.

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.