Picton Mahoney Asset Management Takes $13.12 Million Position in Western Alliance Bancorporation (NYSE:WAL)

Picton Mahoney Asset Management bought a new stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 199,384 shares of the financial services provider's stock, valued at approximately $13,118,000. Picton Mahoney Asset Management owned about 0.18% of Western Alliance Bancorporation as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. WCM Investment Management LLC purchased a new stake in shares of Western Alliance Bancorporation during the fourth quarter valued at $12,387,000. Smead Capital Management Inc. acquired a new position in shares of Western Alliance Bancorporation during the 4th quarter worth about $77,957,000. Strs Ohio lifted its position in shares of Western Alliance Bancorporation by 35.3% in the fourth quarter. Strs Ohio now owns 86,600 shares of the financial services provider's stock valued at $5,697,000 after acquiring an additional 22,600 shares in the last quarter. Invesco Ltd. lifted its holdings in Western Alliance Bancorporation by 170.4% in the 3rd quarter. Invesco Ltd. now owns 1,294,476 shares of the financial services provider's stock valued at $59,507,000 after purchasing an additional 815,737 shares in the last quarter. Finally, Dark Forest Capital Management LP grew its stake in Western Alliance Bancorporation by 16.7% during the 3rd quarter. Dark Forest Capital Management LP now owns 11,976 shares of the financial services provider's stock valued at $551,000 after acquiring an additional 1,713 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Wall Street Analysts Forecast Growth

WAL has been the topic of several recent research reports. Jefferies Financial Group lowered their price target on shares of Western Alliance Bancorporation from $80.00 to $70.00 and set a "buy" rating on the stock in a research report on Monday, April 8th. StockNews.com lowered Western Alliance Bancorporation from a "hold" rating to a "sell" rating in a research report on Saturday, March 9th. Wedbush dropped their target price on Western Alliance Bancorporation from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Friday, April 19th. DA Davidson lowered their target price 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. Finally, Royal Bank of Canada dropped their price target on Western Alliance Bancorporation from $78.00 to $76.00 and set an "outperform" rating on the stock in a research note on Monday, April 22nd. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $70.56.

Western Alliance Bancorporation Price Performance

WAL traded down $0.27 during trading on Tuesday, reaching $62.16. 581,405 shares of the stock were exchanged, compared to its average volume of 1,395,010. Western Alliance Bancorporation has a 1 year low of $25.21 and a 1 year high of $70.23. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.87. The business's 50 day moving average price is $59.41 and its two-hundred day moving average price is $57.82. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 9.06 and a beta of 1.47.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts' consensus estimates of $1.69 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $711.34 million. Western Alliance Bancorporation had a return on equity of 14.77% and a net margin of 16.50%. During the same period in the previous year, the firm posted $2.30 earnings per share. As a group, equities research analysts anticipate that Western Alliance Bancorporation will post 7.57 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Thursday, May 16th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Wednesday, May 15th. Western Alliance Bancorporation's dividend payout ratio is currently 21.57%.

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.

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