Western Alliance Bancorporation (NYSE:WAL) Position Increased by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC increased its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 136.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,375 shares of the financial services provider's stock after purchasing an additional 27,940 shares during the period. Lisanti Capital Growth LLC's holdings in Western Alliance Bancorporation were worth $3,717,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Tsfg LLC bought a new stake in shares of Western Alliance Bancorporation in the 1st quarter worth approximately $33,000. Salzhauer Michael lifted its holdings in shares of Western Alliance Bancorporation by 21.2% in the 1st quarter. Salzhauer Michael now owns 21,690 shares of the financial services provider's stock worth $1,666,000 after purchasing an additional 3,795 shares during the last quarter. HWG Holdings LP bought a new stake in shares of Western Alliance Bancorporation in the 1st quarter worth approximately $25,000. TTP Investments Inc. bought a new stake in shares of Western Alliance Bancorporation in the 1st quarter worth approximately $583,000. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Western Alliance Bancorporation by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 12,780 shares of the financial services provider's stock worth $981,000 after purchasing an additional 340 shares during the last quarter. Institutional investors own 79.15% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. DA Davidson cut their price target on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Royal Bank Of Canada cut their target price on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Barclays cut their target price on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Jefferies Financial Group initiated coverage on Western Alliance Bancorporation in a research note on Wednesday, May 21st. They set a "buy" rating and a $95.00 target price on the stock. Finally, Wells Fargo & Company cut their target price on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $97.77.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL opened at $77.72 on Friday. The business's 50-day moving average price is $73.25 and its two-hundred day moving average price is $78.47. 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 has a one year low of $57.05 and a one year high of $98.10. The company has a market capitalization of $8.58 billion, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 0.58 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $792.25 million. During the same quarter in the previous year, the company posted $1.72 earnings per share. Analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently declared 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 of this dividend was Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.96%. Western Alliance Bancorporation's dividend 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.