Western Alliance Bancorporation (NYSE:WAL) Shares Purchased by Peregrine Capital Management LLC

Peregrine Capital Management LLC boosted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 131,179 shares of the financial services provider’s stock after buying an additional 1,850 shares during the period. Peregrine Capital Management LLC owned 0.13% of Western Alliance Bancorporation worth $4,968,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. AQR Capital Management LLC boosted its stake in Western Alliance Bancorporation by 763.7% in the 1st quarter. AQR Capital Management LLC now owns 427,534 shares of the financial services provider’s stock worth $13,087,000 after buying an additional 378,036 shares during the last quarter. Royal Bank of Canada boosted its stake in Western Alliance Bancorporation by 125.6% in the 1st quarter. Royal Bank of Canada now owns 272,104 shares of the financial services provider’s stock worth $8,329,000 after buying an additional 151,505 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in Western Alliance Bancorporation by 628.8% in the 1st quarter. Meeder Asset Management Inc. now owns 40,655 shares of the financial services provider’s stock worth $1,244,000 after buying an additional 35,077 shares during the last quarter. AXA boosted its stake in Western Alliance Bancorporation by 876.6% in the 1st quarter. AXA now owns 125,000 shares of the financial services provider’s stock worth $3,826,000 after buying an additional 112,200 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Western Alliance Bancorporation by 1,147.0% in the 1st quarter. Deutsche Bank AG now owns 187,676 shares of the financial services provider’s stock worth $5,744,000 after buying an additional 172,626 shares during the last quarter. 82.89% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on WAL. DA Davidson lifted their price objective on Western Alliance Bancorporation from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Wells Fargo & Co lowered Western Alliance Bancorporation from an “overweight” rating to an “equal weight” rating and set a $34.00 price objective on the stock. in a research note on Tuesday, June 2nd. Royal Bank of Canada lifted their price objective on Western Alliance Bancorporation from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. UBS Group lifted their price objective on Western Alliance Bancorporation from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Finally, ValuEngine raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Thursday, April 30th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Western Alliance Bancorporation presently has an average rating of “Buy” and a consensus target price of $45.22.

Western Alliance Bancorporation stock opened at $35.95 on Friday. The stock’s 50 day moving average price is $36.88 and its 200 day moving average price is $40.10. The firm has a market capitalization of $3.63 billion, a PE ratio of 8.46 and a beta of 1.84. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 0.94. Western Alliance Bancorporation has a one year low of $20.90 and a one year high of $58.94.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.69 by $0.24. The firm had revenue of $319.67 million for the quarter, compared to analyst estimates of $305.38 million. Western Alliance Bancorporation had a return on equity of 14.52% and a net margin of 32.82%. On average, analysts forecast that Western Alliance Bancorporation will post 3.58 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, August 13th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 20.66%.

About Western Alliance Bancorporation

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

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Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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