Perpetual Ltd Invests $223,000 in Western Alliance Bancorporation (NYSE:WAL)

Perpetual Ltd bought a new position in shares of Western Alliance Bancorporation (NYSE:WAL) in the 4th quarter, HoldingsChannel reports. The fund bought 2,664 shares of the financial services provider’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in WAL. V Square Quantitative Management LLC bought a new stake in shares of Western Alliance Bancorporation during the third quarter worth about $31,000. ORG Wealth Partners LLC bought a new stake in Western Alliance Bancorporation in the 3rd quarter worth about $33,000. UMB Bank n.a. grew its position in Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 249 shares in the last quarter. Blue Trust Inc. grew its position in Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 187 shares in the last quarter. Finally, Covestor Ltd grew its position in Western Alliance Bancorporation by 167.5% in the 3rd quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 397 shares in the last quarter. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock opened at $91.40 on Friday. The stock has a market capitalization of $10.06 billion, a P/E ratio of 14.11, a PEG ratio of 0.88 and a beta of 1.46. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $88.01 and its 200 day moving average is $83.36. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10.

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Friday, November 15th. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio is 23.46%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. UBS Group assumed coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price objective for the company. Barclays upped their price objective on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. reduced their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Wells Fargo & Company dropped their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, Piper Sandler dropped their target price on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.31.

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.