Mirae Asset Global Investments Co. Ltd. Buys Shares of 18,489 Western Alliance Bancorporation (NYSE:WAL)

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Western Alliance Bancorporation (NYSE:WAL) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 18,489 shares of the financial services provider’s stock, valued at approximately $1,216,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its position in Western Alliance Bancorporation by 422.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock worth $43,000 after buying an additional 760 shares during the last quarter. Fortitude Family Office LLC purchased a new position in Western Alliance Bancorporation during the fourth quarter worth about $93,000. Buckley Wealth Management LLC acquired a new stake in Western Alliance Bancorporation in the fourth quarter valued at about $207,000. Impact Partnership Wealth LLC purchased a new stake in Western Alliance Bancorporation in the 3rd quarter valued at approximately $146,000. Finally, Systematic Alpha Investments LLC acquired a new position in Western Alliance Bancorporation during the 3rd quarter worth approximately $166,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Trading Up 2.2 %

Shares of Western Alliance Bancorporation stock opened at $58.71 on Tuesday. The business has a 50 day moving average price of $59.41 and a 200 day moving average price of $56.71. The company has a market capitalization of $6.47 billion, a P/E ratio of 8.56 and a beta of 1.47. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93. Western Alliance Bancorporation has a 1 year low of $11.35 and a 1 year high of $70.23.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.03. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $711.34 million. Western Alliance Bancorporation had a return on equity of 14.99% and a net margin of 16.50%. During the same period in the prior year, the business earned $2.30 earnings per share. Sell-side analysts anticipate that Western Alliance Bancorporation will post 7.87 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.48 annualized dividend and a dividend yield of 2.52%. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%.

Analyst Ratings Changes

Several research firms have recently commented on WAL. DA Davidson reduced their price target on Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating for the company in a report on Monday. Truist Financial reduced their target price on Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday. Wells Fargo & Company lowered their price target on shares of Western Alliance Bancorporation from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 10th. Citigroup raised their price objective on shares of Western Alliance Bancorporation from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $70.88.

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.