Western Alliance Bancorporation (NYSE:WAL) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 11,675.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 167,566 shares of the financial services provider's stock after acquiring an additional 166,143 shares during the quarter. GAMMA Investing LLC owned about 0.15% of Western Alliance Bancorporation worth $12,874,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WAL. SBI Securities Co. Ltd. bought a new stake in shares of Western Alliance Bancorporation in the 4th quarter worth about $26,000. Smartleaf Asset Management LLC lifted its stake in 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 purchasing an additional 117 shares during the last quarter. Allworth Financial LP boosted its position in shares of Western Alliance Bancorporation by 115.6% during the fourth 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 period. Atala Financial Inc purchased a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at approximately $44,000. Finally, Principal Securities Inc. grew its stake in shares of Western Alliance Bancorporation by 338.1% during the fourth quarter. Principal Securities Inc. now owns 679 shares of the financial services provider's stock valued at $57,000 after buying an additional 524 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Stock Up 1.7%

WAL traded up $1.22 on Tuesday, hitting $75.13. The company had a trading volume of 726,249 shares, compared to its average volume of 1,224,702. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 0.63 and a beta of 1.29. 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 stock has a fifty day moving average price of $70.73 and a 200-day moving average price of $80.17. Western Alliance Bancorporation has a 12-month low of $56.70 and a 12-month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 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 firm earned $1.72 EPS. Analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Thursday, May 15th were issued 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 dividend yield of 2.02%. Western Alliance Bancorporation's dividend payout ratio is presently 20.85%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WAL. Stephens reissued an "overweight" rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Jefferies Financial Group began coverage on Western Alliance Bancorporation in a research report on Wednesday, May 21st. They set a "buy" rating and a $95.00 target price for the company. Wall Street Zen upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Barclays reduced their price target on shares of 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. Finally, Wells Fargo & Company lowered their price objective on shares of 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. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $97.77.

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.