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

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

A number of other hedge funds also recently added to or reduced their stakes in WAL. Raymond James Financial Inc. purchased a new position in Western Alliance Bancorporation in the fourth quarter valued at about $2,695,000. HighTower Advisors LLC increased its stake in shares of Western Alliance Bancorporation by 8.5% during the 4th quarter. HighTower Advisors LLC now owns 16,750 shares of the financial services provider's stock worth $1,399,000 after purchasing an additional 1,312 shares in the last quarter. Madison Investment Advisors LLC purchased a new position in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $3,970,000. Quantbot Technologies LP purchased a new position in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $3,263,000. Finally, American Century Companies Inc. increased its stake in shares of Western Alliance Bancorporation by 1.1% during the 4th quarter. American Century Companies Inc. now owns 364,320 shares of the financial services provider's stock worth $30,435,000 after purchasing an additional 4,057 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Trading Down 3.6%

Shares of WAL traded down $3.08 during mid-day trading on Friday, reaching $81.53. The company had a trading volume of 2,479,284 shares, compared to its average volume of 1,207,746. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 0.60 and a beta of 1.29. The firm has a fifty day simple moving average of $77.09 and a 200-day simple moving average of $78.28. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.73.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.07 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.03. The company had revenue of $836.21 million for the quarter, compared to analyst estimates of $838.58 million. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.88%. During the same quarter last year, the business earned $1.75 EPS. On average, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.86%. Western Alliance Bancorporation's payout ratio is 20.85%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WAL. DA Davidson dropped their price objective on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Stephens reissued an "overweight" rating and set a $92.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. raised their target price on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. 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, Royal Bank Of Canada decreased 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 given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $97.50.

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.