Bleakley Financial Group LLC Invests $212,000 in Western Alliance Bancorporation (NYSE:WAL)

Bleakley Financial Group LLC acquired a new position in Western Alliance Bancorporation (NYSE:WAL) in the fourth quarter, Holdings Channel.com reports. The fund acquired 3,226 shares of the financial services provider’s stock, valued at approximately $212,000.

Other institutional investors have also recently made changes to their positions in the company. Harbour Investments Inc. boosted its position in shares of Western Alliance Bancorporation by 400.7% in the 1st quarter. Harbour Investments Inc. now owns 696 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 557 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Western Alliance Bancorporation in the 2nd quarter worth $28,000. State of Wyoming boosted its position in shares of Western Alliance Bancorporation by 54.7% in the 2nd quarter. State of Wyoming now owns 783 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 277 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Western Alliance Bancorporation by 118.2% in the 1st quarter. Advisory Services Network LLC now owns 993 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 538 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth $43,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $55.25 on Wednesday. The stock has a 50-day simple moving average of $59.69 and a two-hundred day simple moving average of $56.33. The firm has a market capitalization of $6.09 billion, a P/E ratio of 8.45 and a beta of 1.47. Western Alliance Bancorporation has a fifty-two week low of $11.35 and a fifty-two week high of $70.23. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Friday, January 26th. The financial services provider reported $1.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.02). Western Alliance Bancorporation had a net margin of 16.74% and a return on equity of 16.33%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $705.97 million. During the same quarter in the previous year, the business posted $2.67 EPS. On average, equities analysts forecast that Western Alliance Bancorporation will post 7.88 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a $0.37 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.48 annualized dividend and a dividend yield of 2.68%. Western Alliance Bancorporation’s dividend payout ratio is presently 22.63%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Truist Financial reaffirmed a “buy” rating and set a $80.00 price target on shares of Western Alliance Bancorporation in a research report on Monday, April 1st. StockNews.com cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. JPMorgan Chase & Co. lowered their price target on Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Wells Fargo & Company lowered their price target on Western Alliance Bancorporation from $72.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 10th. Finally, Citigroup lifted their price target on Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.60.

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.