Legato Capital Management LLC Has $1.99 Million Holdings in Western Alliance Bancorporation (NYSE:WAL)

Legato Capital Management LLC increased its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 11.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,817 shares of the financial services provider’s stock after purchasing an additional 2,465 shares during the period. Legato Capital Management LLC’s holdings in Western Alliance Bancorporation were worth $1,990,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fifth Third Bancorp increased its holdings 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 buying an additional 136 shares during the period. Versant Capital Management Inc boosted its position in shares of Western Alliance Bancorporation by 13.4% during the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 157 shares in the last quarter. Pacer Advisors Inc. increased its stake in Western Alliance Bancorporation by 1.0% in the fourth quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider’s stock valued at $1,359,000 after acquiring an additional 163 shares during the period. Blue Trust Inc. raised its position in Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 187 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 249 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Performance

WAL stock opened at $89.44 on Wednesday. The company has a 50 day moving average price of $87.24 and a 200 day moving average price of $85.09. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. 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 stock has a market capitalization of $9.84 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results 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 return on equity of 13.14% and a net margin of 15.49%. Analysts forecast that Western Alliance Bancorporation will post 8.99 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.70%. Western Alliance Bancorporation’s payout ratio is presently 21.41%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WAL shares. Royal Bank of Canada set a $99.00 price objective on Western Alliance Bancorporation and gave the company an “outperform” rating in a research note on Friday, October 18th. Piper Sandler upped their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. UBS Group started coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a “buy” rating and a $115.00 price objective for the company. DA Davidson reduced their target price on shares of 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, Barclays increased their target price on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and a consensus target price of $98.07.

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.