Wolverine Asset Management LLC Has $289,000 Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Wolverine Asset Management LLC lifted its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 44.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,458 shares of the financial services provider’s stock after purchasing an additional 1,064 shares during the quarter. Wolverine Asset Management LLC’s holdings in Western Alliance Bancorporation were worth $289,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Retirement Systems of Alabama bought a new stake in Western Alliance Bancorporation in the third quarter worth $11,461,000. Franklin Resources Inc. boosted its stake in shares of Western Alliance Bancorporation by 17.0% during the 3rd quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider’s stock worth $27,970,000 after acquiring an additional 45,764 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth about $5,099,000. BNP Paribas Financial Markets increased its holdings in shares of Western Alliance Bancorporation by 1,091.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider’s stock valued at $2,947,000 after acquiring an additional 31,214 shares during the last quarter. Finally, Lisanti Capital Growth LLC bought a new position in shares of Western Alliance Bancorporation in the 3rd quarter valued at approximately $3,612,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Down 2.9 %

Shares of WAL stock opened at $87.10 on Monday. Western Alliance Bancorporation has a one year low of $53.75 and a one year 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 fifty day moving average price of $86.80 and a 200 day moving average price of $85.87. The stock has a market cap of $9.59 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 0.63 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Friday, February 14th. Western Alliance Bancorporation’s payout ratio is 21.41%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WAL. Barclays upped their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Stephens reaffirmed an “overweight” rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. UBS Group started coverage on shares of Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 target price on the stock. Piper Sandler boosted their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their price target on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus 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.