Quantinno Capital Management LP Acquires 4,844 Shares of Western Alliance Bancorporation (NYSE:WAL)

Quantinno Capital Management LP increased its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 15.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,616 shares of the financial services provider's stock after purchasing an additional 4,844 shares during the quarter. Quantinno Capital Management LP's holdings in Western Alliance Bancorporation were worth $3,059,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. 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 buying an additional 19,639 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Western Alliance Bancorporation by 9.3% during the 4th quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider's stock valued at $8,090,000 after buying an additional 8,201 shares in the last quarter. Focus Partners Wealth increased its stake in shares of Western Alliance Bancorporation by 5.2% during the fourth quarter. Focus Partners Wealth now owns 99,080 shares of the financial services provider's stock valued at $8,277,000 after purchasing an additional 4,909 shares in the last quarter. Norden Group LLC purchased a new position in Western Alliance Bancorporation during the fourth quarter valued at $727,000. Finally, Generate Investment Management Ltd boosted its stake in Western Alliance Bancorporation by 0.7% in the 4th quarter. Generate Investment Management Ltd now owns 417,075 shares of the financial services provider's stock worth $34,842,000 after purchasing an additional 2,772 shares in the last quarter. Institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Down 0.9%

Shares of NYSE WAL traded down $0.68 during mid-day trading on Friday, reaching $71.56. 481,700 shares of the company's stock traded hands, compared to its average volume of 1,227,333. Western Alliance Bancorporation has a 1-year low of $56.70 and a 1-year high of $98.10. The stock has a market cap of $7.90 billion, a P/E ratio of 10.08, a PEG ratio of 0.63 and a beta of 1.30. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The business has a 50-day simple moving average of $71.62 and a 200 day simple moving average of $81.62.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.01. The firm had revenue of $790.10 million during the quarter, compared to analyst estimates of $792.25 million. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. During the same period in the previous year, the business earned $1.72 EPS. On average, analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 2.12%. Western Alliance Bancorporation's payout ratio is presently 20.85%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WAL shares. Piper Sandler boosted their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Truist Financial started coverage on shares of Western Alliance Bancorporation in a report on Tuesday, May 13th. They issued a "buy" rating and a $92.00 price target on the stock. Royal Bank of Canada decreased their price target on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company dropped their price objective on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group began coverage on Western Alliance Bancorporation in a research report on Wednesday. They set a "buy" rating and a $95.00 target price for the company. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $97.77.

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.