Legato Capital Management LLC Has $2.17 Million Holdings in Western Alliance Bancorporation (NYSE:WAL)

Legato Capital Management LLC lifted its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,212 shares of the financial services provider's stock after purchasing an additional 4,395 shares during the quarter. Legato Capital Management LLC's holdings in Western Alliance Bancorporation were worth $2,168,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WAL. HWG Holdings LP acquired a new position in shares of Western Alliance Bancorporation during the first quarter worth approximately $25,000. Tsfg LLC acquired a new stake in shares of Western Alliance Bancorporation during the first quarter worth about $33,000. UMB Bank n.a. raised its position 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 worth $78,000 after purchasing an additional 482 shares during the period. Larson Financial Group LLC raised its holdings in Western Alliance Bancorporation by 144.5% during the 1st quarter. Larson Financial Group LLC now owns 1,714 shares of the financial services provider's stock worth $132,000 after buying an additional 1,013 shares during the period. Finally, RiverPark Advisors LLC raised its holdings in Western Alliance Bancorporation by 14.1% during the 4th quarter. RiverPark Advisors LLC now owns 2,041 shares of the financial services provider's stock worth $171,000 after buying an additional 253 shares during the period. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Up 2.5%

WAL opened at $82.04 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The business's 50-day moving average price is $77.09 and its 200-day moving average price is $78.21. The company has a market cap of $9.06 billion, a P/E ratio of 10.78, a P/E/G ratio of 0.54 and a beta of 1.29. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its earnings results 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. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. The firm had revenue of $836.21 million for the quarter, compared to the consensus estimate of $838.58 million. During the same period in the prior year, the firm earned $1.75 EPS. On average, equities 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. Investors of record on Thursday, May 15th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 1.85%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 19.97%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Truist Financial cut their price target on Western Alliance Bancorporation from $96.00 to $93.00 and set a "buy" rating for the company in a report on Monday. Wells Fargo & Company dropped their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating for the company in a report on Monday. Barclays boosted their target price on shares of Western Alliance Bancorporation from $97.00 to $100.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada lowered their price objective on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Finally, Citigroup boosted their price objective on shares of Western Alliance Bancorporation from $91.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $96.62.

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.

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