Point72 Europe London LLP Has $7.57 Million Holdings in Western Alliance Bancorporation (NYSE:WAL)

Point72 Europe London LLP increased its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 90,643 shares of the financial services provider's stock after purchasing an additional 5,643 shares during the quarter. Point72 Europe London LLP owned approximately 0.08% of Western Alliance Bancorporation worth $7,572,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its stake 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 valued at $27,000 after acquiring an additional 117 shares during the period. Fifth Third Bancorp lifted its holdings in Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 136 shares during the last quarter. Allworth Financial LP boosted its position in Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock worth $37,000 after purchasing an additional 215 shares during the period. Finally, Atala Financial Inc acquired a new position in shares of Western Alliance Bancorporation in the fourth quarter valued at $44,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WAL has been the subject of several research analyst reports. Truist Financial initiated coverage on shares of Western Alliance Bancorporation in a report on Tuesday, May 13th. They set a "buy" rating and a $92.00 target price for the company. Barclays reduced their price objective on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada decreased their target price on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler lifted their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company decreased their price objective on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $96.38.

Western Alliance Bancorporation Price Performance

WAL stock traded down $1.27 during mid-day trading on Tuesday, hitting $76.07. The stock had a trading volume of 282,876 shares, compared to its average volume of 1,223,484. The firm has a fifty day simple moving average of $71.88 and a 200 day simple moving average of $82.06. The firm has a market capitalization of $8.40 billion, a P/E ratio of 10.71, a P/E/G ratio of 0.63 and a beta of 1.30. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 52 week low of $56.70 and a 52 week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating 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 business had revenue of $790.10 million for the quarter, compared to analysts' expectations of $792.25 million. During the same period last year, the firm posted $1.72 earnings per share. As a group, research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio is presently 20.85%.

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.