Victory Capital Management Inc. Acquires 750,773 Shares of Western Alliance Bancorporation (NYSE:WAL)

Victory Capital Management Inc. boosted its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 5,918.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 763,459 shares of the financial services provider's stock after buying an additional 750,773 shares during the quarter. Victory Capital Management Inc. owned 0.70% of Western Alliance Bancorporation worth $50,228,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WAL. Parkside Financial Bank & Trust boosted its holdings in Western Alliance Bancorporation by 422.2% in the third quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider's stock worth $43,000 after purchasing an additional 760 shares in the last quarter. Rakuten Securities Inc. acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at about $65,000. Fortitude Family Office LLC acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at about $93,000. Busey Bank acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at about $202,000. Finally, Buckley Wealth Management LLC acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at about $207,000. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Trading Up 2.2 %

NYSE WAL traded up $1.33 on Friday, hitting $61.29. The company's stock had a trading volume of 1,066,725 shares, compared to its average volume of 1,066,195. The company's 50-day moving average is $59.25 and its 200 day moving average is $57.57. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.40. Western Alliance Bancorporation has a 1-year low of $11.35 and a 1-year high of $70.23. The firm has a market cap of $6.75 billion, a PE ratio of 8.93 and a beta of 1.47.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its earnings results on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $711.34 million. During the same quarter in the prior year, the company posted $2.30 earnings per share. As a group, analysts predict that Western Alliance Bancorporation will post 7.57 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Thursday, May 16th will be given a dividend of $0.37 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.48 dividend on an annualized basis and a yield of 2.41%. Western Alliance Bancorporation's dividend payout ratio is presently 21.57%.

Analyst Ratings Changes

WAL has been the subject of several recent research reports. Royal Bank of Canada dropped their price target on shares of Western Alliance Bancorporation from $78.00 to $76.00 and set an "outperform" rating for the company in a research report on Monday, April 22nd. Hovde Group assumed coverage on shares of Western Alliance Bancorporation in a report on Monday, April 22nd. They set an "outperform" rating and a $75.00 price objective for the company. DA Davidson dropped 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, April 22nd. Barclays decreased their price target on shares of Western Alliance Bancorporation from $91.00 to $86.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 23rd. Finally, Wells Fargo & Company decreased their price target on shares of Western Alliance Bancorporation from $72.00 to $68.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $70.56.

Western Alliance Bancorporation Company 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.