Western Alliance Bancorporation (NYSE:WAL) Holdings Lifted by GAMMA Investing LLC

GAMMA Investing LLC lifted its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 11,675.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in WAL. SBI Securities Co. Ltd. acquired a new position in Western Alliance Bancorporation in the 4th quarter worth $26,000. Smartleaf Asset Management LLC lifted its holdings in 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 worth $27,000 after buying an additional 117 shares in the last quarter. Allworth Financial LP lifted its holdings in Western Alliance Bancorporation by 115.6% in the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock worth $37,000 after buying an additional 215 shares in the last quarter. Atala Financial Inc acquired a new position in Western Alliance Bancorporation in the 4th quarter worth $44,000. Finally, Principal Securities Inc. lifted its holdings in Western Alliance Bancorporation by 338.1% in the 4th quarter. Principal Securities Inc. now owns 679 shares of the financial services provider's stock worth $57,000 after buying an additional 524 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL traded up $2.22 during mid-day trading on Friday, hitting $74.34. The company had a trading volume of 1,072,438 shares, compared to its average volume of 1,227,502. The stock has a market cap of $8.21 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a 12 month low of $56.70 and a 12 month high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The firm's 50 day simple moving average is $70.61 and its two-hundred day simple moving average is $80.43.

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

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio (DPR) is 20.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Stephens reiterated an "overweight" rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. DA Davidson dropped their target price on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Jefferies Financial Group assumed coverage on shares of Western Alliance Bancorporation in a research report on Wednesday, May 21st. They issued a "buy" rating and a $95.00 target price for the company. Royal Bank of Canada dropped 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 report on Wednesday, April 23rd. Finally, Wall Street Zen raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.