Vest Financial LLC Makes New Investment in Western Alliance Bancorporation (NYSE:WAL)

Vest Financial LLC purchased a new position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,964 shares of the financial services provider's stock, valued at approximately $919,000.

Other hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in Western Alliance Bancorporation during the fourth quarter valued at $26,000. Smartleaf Asset Management LLC raised its stake in shares of Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after buying an additional 117 shares during the period. Allworth Financial LP lifted its position in shares of Western Alliance Bancorporation by 115.6% during 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 in the last quarter. Atala Financial Inc bought a new position in shares of Western Alliance Bancorporation during the 4th quarter valued at approximately $44,000. Finally, Principal Securities Inc. grew its stake in shares of Western Alliance Bancorporation by 338.1% during the 4th quarter. Principal Securities Inc. now owns 679 shares of the financial services provider's stock valued at $57,000 after acquiring an additional 524 shares during the period. Institutional investors own 79.15% of the company's stock.

Analysts Set New Price Targets

WAL has been the topic of a number of recent analyst reports. Stephens restated an "overweight" rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. DA Davidson decreased their price objective on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company dropped their target price on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Wall Street Zen raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, Royal Bank of Canada dropped their price objective on 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. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $97.77.

Western Alliance Bancorporation Stock Up 3.1%

NYSE WAL opened at $74.34 on Monday. The stock has a 50 day moving average price of $70.61 and a 200-day moving average price of $80.35. Western Alliance Bancorporation has a one year low of $56.70 and a one year high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The company has a market capitalization of $8.21 billion, a P/E ratio of 10.47, a P/E/G ratio of 0.63 and a beta of 1.29.

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

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 2.04%. Western Alliance Bancorporation's payout ratio is currently 20.85%.

Western Alliance Bancorporation 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.

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