Western Alliance Bancorporation (NYSE:WAL) Shares Purchased by Jackson Square Capital LLC

Jackson Square Capital LLC grew its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 64.4% in the 4th quarter, Holdings Channel reports. The fund owned 33,114 shares of the financial services provider’s stock after acquiring an additional 12,972 shares during the period. Jackson Square Capital LLC’s holdings in Western Alliance Bancorporation were worth $2,766,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oliver Luxxe Assets LLC boosted its holdings in Western Alliance Bancorporation by 5.2% in the fourth quarter. Oliver Luxxe Assets LLC now owns 50,301 shares of the financial services provider’s stock valued at $4,202,000 after purchasing an additional 2,492 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Western Alliance Bancorporation by 3.1% in the 4th quarter. Nordea Investment Management AB now owns 88,012 shares of the financial services provider’s stock valued at $7,395,000 after purchasing an additional 2,632 shares in the last quarter. Everence Capital Management Inc. purchased a new position in shares of Western Alliance Bancorporation during the 4th quarter valued at approximately $244,000. GAMMA Investing LLC grew its position in shares of Western Alliance Bancorporation by 25.5% during the fourth quarter. GAMMA Investing LLC now owns 1,423 shares of the financial services provider’s stock worth $119,000 after buying an additional 289 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Western Alliance Bancorporation by 13.4% in the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock worth $111,000 after buying an additional 157 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased 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 report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and lifted their price target for the stock from $83.00 to $101.00 in a research note on Monday, October 7th. Barclays upped their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. UBS Group initiated coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 target price for the company. Finally, Truist Financial dropped their price target on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $94.31.

Western Alliance Bancorporation Trading Up 2.9 %

Western Alliance Bancorporation stock opened at $89.61 on Friday. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. 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 firm has a market capitalization of $9.86 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.75 and a beta of 1.46. The firm has a 50-day moving average price of $88.11 and a two-hundred day moving average price of $82.77.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10). Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. The business had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. Sell-side analysts expect that Western Alliance Bancorporation will post 7.11 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.70%. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 23.46%.

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.