14,275 Shares in Western Alliance Bancorporation (NYSE:WAL) Bought by SG Americas Securities LLC

SG Americas Securities LLC acquired a new stake in Western Alliance Bancorporation (NYSE:WAL) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 14,275 shares of the financial services provider’s stock, valued at approximately $1,097,000.

Other large investors also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Western Alliance Bancorporation in the 1st quarter valued at about $983,000. GAMMA Investing LLC raised its position in shares of Western Alliance Bancorporation by 53.3% during the 1st quarter. GAMMA Investing LLC now owns 2,181 shares of the financial services provider’s stock valued at $168,000 after buying an additional 758 shares during the period. Portside Wealth Group LLC raised its position in shares of Western Alliance Bancorporation by 12.4% during the 1st quarter. Portside Wealth Group LLC now owns 2,916 shares of the financial services provider’s stock valued at $224,000 after buying an additional 321 shares during the period. UMB Bank n.a. lifted its holdings in Western Alliance Bancorporation by 91.5% in the first quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 482 shares during the last quarter. Finally, Vest Financial LLC purchased a new position in Western Alliance Bancorporation in the first quarter worth approximately $919,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on WAL shares. Royal Bank Of Canada decreased their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Jefferies Financial Group started coverage on shares of Western Alliance Bancorporation in a report on Wednesday, May 21st. They issued a “buy” rating and a $95.00 target price for the company. Truist Financial started coverage on Western Alliance Bancorporation in a report on Tuesday, May 13th. They issued a “buy” rating and a $92.00 price objective on the stock. Barclays lowered their target price on Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Wall Street Zen upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Wednesday, May 21st. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $97.77.

Western Alliance Bancorporation Trading Down 1.9%

NYSE WAL opened at $70.86 on Wednesday. Western Alliance Bancorporation has a 52 week low of $57.05 and a 52 week high of $98.10. The firm has a 50 day moving average of $71.69 and a two-hundred day moving average of $79.42. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $7.82 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 0.54 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.01. Western Alliance Bancorporation had a return on equity of 12.57% and a net margin of 15.80%. The company had revenue of $790.10 million during the quarter, compared to the consensus estimate of $792.25 million. During the same period in the previous year, the business earned $1.72 EPS. As a group, research analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Thursday, May 15th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Thursday, May 15th. Western Alliance Bancorporation’s payout ratio is 20.85%.

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.