TTP Investments Inc. Makes New $583,000 Investment in Western Alliance Bancorporation (NYSE:WAL)

TTP Investments Inc. bought a new position in Western Alliance Bancorporation (NYSE:WAL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,592 shares of the financial services provider's stock, valued at approximately $583,000. Western Alliance Bancorporation makes up approximately 0.2% of TTP Investments Inc.'s investment portfolio, making the stock its 25th biggest position.

A number of other hedge funds have also added to or reduced their stakes in WAL. State of Alaska Department of Revenue increased its holdings in shares of Western Alliance Bancorporation by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 12,780 shares of the financial services provider's stock valued at $981,000 after acquiring an additional 340 shares in the last quarter. Vicus Capital increased its holdings in shares of Western Alliance Bancorporation by 18.6% during the first quarter. Vicus Capital now owns 2,850 shares of the financial services provider's stock valued at $219,000 after acquiring an additional 446 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Western Alliance Bancorporation by 22.6% during the first quarter. Janney Montgomery Scott LLC now owns 4,380 shares of the financial services provider's stock valued at $337,000 after acquiring an additional 808 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Western Alliance Bancorporation by 3.4% during the first quarter. Exchange Traded Concepts LLC now owns 15,567 shares of the financial services provider's stock valued at $1,196,000 after acquiring an additional 518 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of 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 acquiring an additional 25,260 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Up 2.2%

WAL stock opened at $72.37 on Thursday. The stock's fifty day simple moving average is $71.77 and its two-hundred day simple moving average is $79.38. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.73. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $98.10. The stock has a market cap of $7.99 billion, a P/E ratio of 9.93, a P/E/G ratio of 0.53 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, topping 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 business had revenue of $790.10 million for the quarter, compared to analysts' expectations of $792.25 million. During the same quarter in the previous year, the firm earned $1.72 earnings per share. Analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were given a $0.38 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 2.10%. Western Alliance Bancorporation's dividend payout ratio is currently 20.85%.

Wall Street Analyst Weigh In

Several research firms have recently commented on WAL. Truist Financial began coverage on Western Alliance Bancorporation in a report on Tuesday, May 13th. They set a "buy" rating and a $92.00 price objective for the company. Jefferies Financial Group began coverage on Western Alliance Bancorporation in a report on Wednesday, May 21st. They set a "buy" rating and a $95.00 price objective for the company. Stephens restated an "overweight" rating and set a $92.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Barclays decreased their price objective on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Wall Street Zen upgraded 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, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Western Alliance Bancorporation presently has an average rating of "Moderate Buy" and a consensus price target of $97.77.

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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