Duality Advisers LP Purchases New Position in Western Alliance Bancorporation (NYSE:WAL)

Duality Advisers LP bought a new stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 14,944 shares of the financial services provider's stock, valued at approximately $983,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AE Wealth Management LLC acquired a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth approximately $1,173,000. Impact Partnership Wealth LLC acquired a new stake in Western Alliance Bancorporation during the third quarter valued at approximately $146,000. Handelsbanken Fonder AB raised its holdings in shares of Western Alliance Bancorporation by 9.5% during the third quarter. Handelsbanken Fonder AB now owns 17,360 shares of the financial services provider's stock valued at $798,000 after acquiring an additional 1,500 shares during the period. Peregrine Capital Management LLC acquired a new stake in shares of Western Alliance Bancorporation during the third quarter valued at approximately $9,941,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Western Alliance Bancorporation by 5.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 8,880 shares of the financial services provider's stock valued at $408,000 after acquiring an additional 487 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, April 4th. Jefferies Financial Group decreased their target price on shares of Western Alliance Bancorporation from $80.00 to $70.00 and set a "buy" rating for the company in a research report on Monday, April 8th. Hovde Group started coverage on shares of Western Alliance Bancorporation in a report on Monday. They set an "outperform" rating and a $75.00 price objective for the company. DA Davidson decreased their price objective on shares of Western Alliance Bancorporation from $85.00 to $78.00 and set a "buy" rating for the company in a report on Monday. Finally, Truist Financial decreased their price objective on shares of Western Alliance Bancorporation from $80.00 to $75.00 and set a "buy" rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Western Alliance Bancorporation presently has an average rating of "Moderate Buy" and a consensus target price of $70.56.

Western Alliance Bancorporation Price Performance

Shares of WAL stock traded down $0.44 during mid-day trading on Wednesday, reaching $59.38. The company's stock had a trading volume of 618,031 shares, compared to its average volume of 1,457,410. Western Alliance Bancorporation has a 1-year low of $11.35 and a 1-year high of $70.23. The company has a market cap of $6.54 billion, a P/E ratio of 8.66 and a beta of 1.47. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96. The firm's 50-day moving average is $59.41 and its two-hundred day moving average is $56.84.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.03. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $711.34 million. During the same quarter in the prior year, the company posted $2.30 EPS. On average, research analysts predict that Western Alliance Bancorporation will post 7.83 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, March 1st. Investors of record on Friday, February 16th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Thursday, February 15th. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 21.57%.

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.