Western Alliance Bancorporation (NYSE:WAL) Stake Raised by Legato Capital Management LLC

Legato Capital Management LLC raised its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 11.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,817 shares of the financial services provider’s stock after acquiring an additional 2,465 shares during the quarter. Legato Capital Management LLC’s holdings in Western Alliance Bancorporation were worth $1,990,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Fifth Third Bancorp grew its position in Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 136 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Western Alliance Bancorporation during the 3rd quarter valued at $31,000. ORG Wealth Partners LLC purchased a new position in shares of Western Alliance Bancorporation during the 3rd quarter valued at $33,000. UMB Bank n.a. grew its holdings in shares of Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 249 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of 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 acquiring an additional 187 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Up 2.1 %

Western Alliance Bancorporation stock opened at $89.44 on Wednesday. The business’s 50-day simple moving average is $87.24 and its 200-day simple moving average is $85.09. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The firm has a market capitalization of $9.84 billion, a PE ratio of 12.60, a PEG ratio of 0.64 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results 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 return on equity of 13.14% and a net margin of 15.49%. Equities research analysts forecast that Western Alliance Bancorporation will post 8.99 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

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

Wall Street Analysts Forecast Growth

WAL has been the subject of a number of research reports. Truist Financial reduced their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 21st. JPMorgan Chase & Co. reduced their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Royal Bank of Canada set a $99.00 price objective on Western Alliance Bancorporation and gave the stock an “outperform” rating in a report on Friday, October 18th. Wells Fargo & Company reduced their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Finally, Stephens restated an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.07.

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.