Salzhauer Michael Purchases 3,795 Shares of Western Alliance Bancorporation (NYSE:WAL)

Salzhauer Michael increased its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 21.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,690 shares of the financial services provider's stock after acquiring an additional 3,795 shares during the quarter. Western Alliance Bancorporation makes up 0.7% of Salzhauer Michael's holdings, making the stock its 23rd largest holding. Salzhauer Michael's holdings in Western Alliance Bancorporation were worth $1,666,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in Western Alliance Bancorporation by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,968,526 shares of the financial services provider's stock valued at $498,612,000 after purchasing an additional 154,575 shares during the last quarter. Invesco Ltd. boosted its position in Western Alliance Bancorporation by 5.1% during the fourth quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider's stock valued at $479,207,000 after purchasing an additional 278,041 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Western Alliance Bancorporation by 0.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,577,760 shares of the financial services provider's stock valued at $298,887,000 after purchasing an additional 22,942 shares during the last quarter. Janus Henderson Group PLC boosted its position in Western Alliance Bancorporation by 23.5% during the fourth quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider's stock valued at $195,616,000 after purchasing an additional 445,176 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its position in Western Alliance Bancorporation by 1.3% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,909,003 shares of the financial services provider's stock valued at $146,668,000 after purchasing an additional 25,260 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL traded up $0.04 during trading hours on Friday, hitting $77.72. 1,283,225 shares of the company's stock were exchanged, compared to its average volume of 1,216,475. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $98.10. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.88 and a quick ratio of 0.83. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 0.58 and a beta of 1.29. The company's 50-day moving average price is $73.25 and its 200-day moving average price is $78.39.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.01. Western Alliance Bancorporation had a return on equity of 12.57% and a net margin of 15.80%. The firm had revenue of $790.10 million for the quarter, compared to analyst estimates of $792.25 million. During the same period in the previous year, the company posted $1.72 earnings per share. On average, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were paid 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 1.96%. Western Alliance Bancorporation's dividend payout ratio is 20.85%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company reduced their price objective on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. DA Davidson reduced their price target on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Barclays reduced their price target on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Truist Financial initiated coverage on Western Alliance Bancorporation in a research report on Tuesday, May 13th. They issued a "buy" rating and a $92.00 price target for the company. Finally, Jefferies Financial Group initiated coverage on Western Alliance Bancorporation in a research report on Wednesday, May 21st. They issued a "buy" rating and a $95.00 price target for the company. Two 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 stock. According to MarketBeat.com, Western Alliance Bancorporation has an average rating of "Moderate Buy" and a consensus 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.