Western Alliance Bancorporation (NYSE:WAL) Shares Bought by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. boosted its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 42.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,000 shares of the financial services provider's stock after acquiring an additional 6,300 shares during the quarter. Hussman Strategic Advisors Inc.'s holdings in Western Alliance Bancorporation were worth $1,613,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. MidWestOne Financial Group Inc. raised its holdings in Western Alliance Bancorporation by 0.6% in the fourth quarter. MidWestOne Financial Group Inc. now owns 26,646 shares of the financial services provider's stock valued at $2,226,000 after acquiring an additional 160 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Western Alliance Bancorporation by 5.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,087 shares of the financial services provider's stock valued at $258,000 after purchasing an additional 166 shares during the last quarter. D.A. Davidson & CO. increased its stake in Western Alliance Bancorporation by 2.9% in the first quarter. D.A. Davidson & CO. now owns 6,056 shares of the financial services provider's stock valued at $465,000 after purchasing an additional 169 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in Western Alliance Bancorporation by 3.4% in the first quarter. Crossmark Global Holdings Inc. now owns 5,993 shares of the financial services provider's stock valued at $460,000 after purchasing an additional 197 shares during the last quarter. Finally, RiverPark Advisors LLC increased its stake in Western Alliance Bancorporation by 14.1% in the fourth quarter. RiverPark Advisors LLC now owns 2,041 shares of the financial services provider's stock valued at $171,000 after purchasing an additional 253 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL traded up $1.12 during mid-day trading on Monday, hitting $82.36. 244,409 shares of the company were exchanged, compared to its average volume of 1,195,793. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a 50 day simple moving average of $77.09 and a 200-day simple moving average of $78.21. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $98.10. The firm has a market cap of $9.09 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 0.58 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.03. Western Alliance Bancorporation had a return on equity of 12.62% and a net margin of 16.39%. The firm had revenue of $836.21 million during the quarter, compared to the consensus estimate of $838.58 million. During the same period last year, the company earned $1.75 earnings per share. On average, sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio is presently 19.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Western Alliance Bancorporation in a research note on Wednesday, May 21st. They issued a "buy" rating and a $95.00 price target on the stock. Truist Financial dropped their price target on shares of Western Alliance Bancorporation from $96.00 to $93.00 and set a "buy" rating on the stock in a research note on Monday. Wall Street Zen upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Wells Fargo & Company lowered their target price on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Monday. Finally, Royal Bank Of Canada lowered their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $96.14.

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.