6,117 Shares in Western Alliance Bancorporation (NYSE:WAL) Purchased by Readystate Asset Management LP

Readystate Asset Management LP bought a new position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,117 shares of the financial services provider's stock, valued at approximately $470,000.

A number of other institutional investors have also modified their holdings of the stock. HWG Holdings LP purchased a new stake in Western Alliance Bancorporation in the first quarter valued at $25,000. Tsfg LLC acquired a new stake in Western Alliance Bancorporation in the 1st quarter valued at about $33,000. UMB Bank n.a. grew its stake in shares of Western Alliance Bancorporation by 91.5% in the 1st 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 during the period. Larson Financial Group LLC boosted its position in shares of 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 purchasing an additional 1,013 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Western Alliance Bancorporation by 53.3% during the 1st quarter. GAMMA Investing LLC now owns 2,181 shares of the financial services provider's stock worth $168,000 after purchasing an additional 758 shares during the period. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Down 0.4%

WAL traded down $0.32 during trading on Thursday, reaching $83.22. 1,610,240 shares of the stock were exchanged, compared to its average volume of 1,113,875. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $98.10. The stock has a market cap of $9.19 billion, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 0.57 and a beta of 1.29. The stock's 50 day moving average price is $77.32 and its two-hundred day moving average price is $78.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.07 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 the consensus estimate of $838.58 million. During the same period in the prior year, the company posted $1.75 earnings per share. Equities analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio is presently 19.97%.

Analyst Ratings Changes

Several brokerages have commented on WAL. Wells Fargo & Company decreased their price target on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating for the company in a research report on Monday. Piper Sandler raised their price objective on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an "overweight" rating in a research report on Monday. Jefferies Financial Group started coverage on shares of Western Alliance Bancorporation in a research note on Wednesday, May 21st. They set a "buy" rating and a $95.00 price target on the stock. JPMorgan Chase & Co. upped 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. Finally, Wall Street Zen raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $96.62.

About Western Alliance Bancorporation

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.