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

Salzhauer Michael grew its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 21.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,690 shares of the financial services provider's stock after purchasing 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 biggest holding. Salzhauer Michael's holdings in Western Alliance Bancorporation were worth $1,666,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in shares of Western Alliance Bancorporation in the fourth quarter worth $26,000. HWG Holdings LP acquired a new position in Western Alliance Bancorporation during the 1st quarter worth about $25,000. Smartleaf Asset Management LLC grew its position in shares of Western Alliance Bancorporation by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock valued at $27,000 after buying an additional 117 shares during the last quarter. Allworth Financial LP grew its position in shares of Western Alliance Bancorporation by 115.6% in the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock valued at $37,000 after buying an additional 215 shares during the last quarter. Finally, Atala Financial Inc acquired a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at about $44,000. 79.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WAL shares. Barclays reduced their target price on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Truist Financial assumed coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, May 13th. They issued a "buy" rating and a $92.00 price objective on the stock. Royal Bank Of Canada lowered their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Jefferies Financial Group started coverage on shares of Western Alliance Bancorporation in a report on Wednesday, May 21st. They issued a "buy" rating and a $95.00 target price on the stock. Finally, Stephens reiterated an "overweight" rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $97.77.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $75.56 on Thursday. Western Alliance Bancorporation has a one year low of $57.05 and a one year high of $98.10. The company has a market cap of $8.34 billion, a PE ratio of 10.36, a P/E/G ratio of 0.57 and a beta of 1.29. The stock has a 50-day moving average of $72.79 and a 200-day moving average of $78.74. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.88 and a quick ratio of 0.83.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data 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. 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 during the quarter, compared to analysts' expectations of $792.25 million. During the same quarter last year, the firm posted $1.72 earnings per share. On average, equities research analysts predict 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 was paid on Friday, May 30th. Shareholders 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 dividend on an annualized basis and a yield of 2.01%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 20.85%.

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.

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