GFG Capital LLC Buys New Stake in Western Alliance Bancorporation (NYSE:WAL)

GFG Capital LLC purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,570 shares of the financial services provider’s stock, valued at approximately $298,000.

Several other hedge funds also recently modified their holdings of the company. Fifth Third Bancorp boosted its position in shares of 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 buying an additional 136 shares during the period. V Square Quantitative Management LLC bought a new position in Western Alliance Bancorporation during the third quarter valued at about $31,000. Blue Trust Inc. raised its holdings in Western Alliance Bancorporation by 58.4% during the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after buying an additional 187 shares in the last quarter. Covestor Ltd raised its holdings in Western Alliance Bancorporation by 167.5% during the third quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock valued at $55,000 after buying an additional 397 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Western Alliance Bancorporation by 196.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 920 shares of the financial services provider’s stock valued at $80,000 after buying an additional 610 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WAL has been the topic of several recent research reports. Stephens restated an “overweight” rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Truist Financial cut their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Barclays lifted their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Wells Fargo & Company dropped their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, Piper Sandler lifted their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $98.07.

Western Alliance Bancorporation Trading Up 1.4 %

Shares of WAL opened at $87.21 on Friday. 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 stock’s 50-day moving average price is $87.05 and its 200 day moving average price is $85.15. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 0.64 and a beta of 1.46. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. As a group, research analysts predict that Western Alliance Bancorporation will post 8.99 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Friday, February 14th. Western Alliance Bancorporation’s payout ratio is currently 21.41%.

About Western Alliance Bancorporation

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.