Capital Fund Management S.A. Has $7.34 Million Stake in Western Alliance Bancorporation (NYSE:WAL)

Capital Fund Management S.A. lifted its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 139.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 87,846 shares of the financial services provider’s stock after purchasing an additional 51,085 shares during the quarter. Capital Fund Management S.A.’s holdings in Western Alliance Bancorporation were worth $7,339,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of WAL. SBI Securities Co. Ltd. acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth about $26,000. Smartleaf Asset Management LLC grew its stake in Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 117 shares during the period. Fifth Third Bancorp increased its holdings in Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 136 shares in the last quarter. Allworth Financial LP lifted its stake in Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock valued at $37,000 after buying an additional 215 shares during the period. Finally, Atala Financial Inc acquired a new position in Western Alliance Bancorporation in the fourth quarter valued at approximately $44,000. Institutional investors own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company dropped their price objective on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday. Barclays reduced their target price on Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. DA Davidson dropped their price target on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Piper Sandler raised their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.40.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $63.07 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The company has a fifty day moving average price of $78.97 and a 200-day moving average price of $84.55. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. As a group, equities research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.41%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.41%.

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.