Western Alliance Bancorporation (NYSE:WAL) Position Lifted by Rhino Investment Partners Inc

Rhino Investment Partners Inc boosted its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 13.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 241,676 shares of the financial services provider's stock after buying an additional 28,300 shares during the period. Western Alliance Bancorporation makes up about 4.5% of Rhino Investment Partners Inc's holdings, making the stock its 7th largest holding. Rhino Investment Partners Inc owned 0.22% of Western Alliance Bancorporation worth $20,190,000 at the end of the most recent quarter.

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

Western Alliance Bancorporation Stock Performance

Shares of WAL traded down $0.79 during trading hours on Tuesday, reaching $71.22. 145,460 shares of the company traded hands, compared to its average volume of 1,262,503. The stock has a market capitalization of $7.88 billion, a P/E ratio of 10.03, a P/E/G ratio of 0.63 and a beta of 1.30. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average price of $72.53 and a 200-day moving average price of $82.52. Western Alliance Bancorporation has a 12-month low of $56.70 and a 12-month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $790.10 million for the quarter, compared to the consensus estimate of $792.25 million. During the same quarter in the prior year, the company earned $1.72 EPS. Equities analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.13%. Western Alliance Bancorporation's payout ratio is 20.85%.

Wall Street Analyst Weigh In

WAL has been the topic of a number of recent research reports. Stephens reissued an "overweight" rating and issued a $92.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. Piper Sandler lifted their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays cut their target price on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Western Alliance Bancorporation presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.62.

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.