Dynamic Technology Lab Private Ltd Takes Position in Western Alliance Bancorporation (NYSE:WAL)

Dynamic Technology Lab Private Ltd bought a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,200 shares of the financial services provider’s stock, valued at approximately $434,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new stake in Western Alliance Bancorporation in the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC grew its position in shares of Western Alliance Bancorporation by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after buying an additional 117 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 136 shares during the last quarter. Allworth Financial LP boosted its stake in Western Alliance Bancorporation by 115.6% in the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 215 shares in the last quarter. Finally, Atala Financial Inc acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock opened at $60.88 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The firm’s 50 day moving average is $80.68 and its two-hundred day moving average is $85.09. The firm has a market capitalization of $6.72 billion, a P/E ratio of 8.57, a P/E/G ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.41%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WAL. UBS Group began coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price objective for the company. Piper Sandler increased their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Stephens reaffirmed an “overweight” rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. JPMorgan Chase & Co. cut 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 report on Tuesday, January 7th. Finally, StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.40.

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.