M&T Bank Corp Purchases 256 Shares of Western Alliance Bancorporation (NYSE:WAL)

M&T Bank Corp increased its position in Western Alliance Bancorporation (NYSE:WAL) by 4.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,926 shares of the financial services provider’s stock after purchasing an additional 256 shares during the quarter. M&T Bank Corp’s holdings in Western Alliance Bancorporation were worth $455,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in WAL. Point72 Europe London LLP boosted its position in shares of Western Alliance Bancorporation by 6.6% during the 4th quarter. Point72 Europe London LLP now owns 90,643 shares of the financial services provider’s stock worth $7,572,000 after acquiring an additional 5,643 shares in the last quarter. Nicholas Investment Partners LP grew its holdings in Western Alliance Bancorporation by 12.7% in the fourth quarter. Nicholas Investment Partners LP now owns 174,582 shares of the financial services provider’s stock worth $14,585,000 after purchasing an additional 19,639 shares during the period. GAMMA Investing LLC grew its holdings in Western Alliance Bancorporation by 53.3% in the first quarter. GAMMA Investing LLC now owns 2,181 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 758 shares during the period. New York State Teachers Retirement System grew its holdings in shares of Western Alliance Bancorporation by 24.9% during the first quarter. New York State Teachers Retirement System now owns 25,387 shares of the financial services provider’s stock valued at $1,950,000 after buying an additional 5,056 shares during the last quarter. Finally, Focus Partners Wealth grew its holdings in shares of Western Alliance Bancorporation by 5.2% during the fourth quarter. Focus Partners Wealth now owns 99,080 shares of the financial services provider’s stock valued at $8,277,000 after buying an additional 4,909 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Up 1.7%

Shares of Western Alliance Bancorporation stock opened at $82.34 on Thursday. The firm has a market cap of $9.09 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 0.58 and a beta of 1.29. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.88 and a quick ratio of 0.83. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $98.10. The company has a 50-day moving average of $76.75 and a 200 day moving average of $78.29.

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

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, May 15th. Western Alliance Bancorporation’s payout ratio is 20.85%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WAL. Barclays raised their price target on shares of Western Alliance Bancorporation from $97.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. upped their target price on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Wall Street Zen raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Wednesday, May 21st. Jefferies Financial Group initiated coverage on shares of Western Alliance Bancorporation in a research note on Wednesday, May 21st. They issued a “buy” rating and a $95.00 price objective for the company. Finally, Stephens reissued an “overweight” rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.50.

Western Alliance Bancorporation 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.