Point72 Europe London LLP Increases Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Point72 Europe London LLP lifted its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,643 shares of the financial services provider's stock after buying an additional 5,643 shares during the quarter. Point72 Europe London LLP owned approximately 0.08% of Western Alliance Bancorporation worth $7,572,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WAL. SBI Securities Co. Ltd. purchased a new stake in Western Alliance Bancorporation in the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC boosted its position in Western Alliance Bancorporation by 56.0% during 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 in the last quarter. Fifth Third Bancorp raised its position in shares of Western Alliance Bancorporation by 70.1% in the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after acquiring an additional 136 shares in 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 valued at $37,000 after purchasing an additional 215 shares in the last quarter. Finally, Atala Financial Inc bought a new position in Western Alliance Bancorporation in the fourth quarter worth about $44,000. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock opened at $79.90 on Thursday. The stock has a market cap of $8.82 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30. Western Alliance Bancorporation has a 52-week low of $56.70 and a 52-week high of $98.10. The business has a 50-day simple moving average of $71.65 and a 200-day simple moving average of $82.21. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 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 analyst estimates 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 in the prior year, the firm posted $1.72 EPS. On average, equities analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be issued a $0.38 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.90%. Western Alliance Bancorporation's payout ratio is 20.85%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WAL. Piper Sandler raised their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Wells Fargo & Company dropped their target price on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. StockNews.com cut Western Alliance Bancorporation from a "hold" rating to a "sell" rating in a research note on Monday. Barclays lowered their price target 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. Finally, Royal Bank of Canada decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.38.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.