FJ Capital Management LLC raised its position in Western Alliance Bancorporation (NYSE:WAL – Free Report) by 146.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 432,672 shares of the financial services provider’s stock after purchasing an additional 257,283 shares during the period. Western Alliance Bancorporation comprises approximately 4.1% of FJ Capital Management LLC’s holdings, making the stock its 6th largest position. FJ Capital Management LLC’s holdings in Western Alliance Bancorporation were worth $36,375,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearstead Advisors LLC lifted its stake in Western Alliance Bancorporation by 144.6% in the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock valued at $35,000 after buying an additional 243 shares during the last quarter. Community Bank N.A. purchased a new stake in Western Alliance Bancorporation in the third quarter valued at approximately $37,000. Smartleaf Asset Management LLC lifted its stake in Western Alliance Bancorporation by 113.0% in the third quarter. Smartleaf Asset Management LLC now owns 443 shares of the financial services provider’s stock valued at $39,000 after buying an additional 235 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Western Alliance Bancorporation in the fourth quarter valued at approximately $38,000. Finally, Leonteq Securities AG purchased a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.
Western Alliance Bancorporation Stock Performance
NYSE WAL opened at $83.47 on Friday. The business’s 50-day moving average price is $78.46 and its 200 day moving average price is $81.93. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. Western Alliance Bancorporation has a twelve month low of $65.82 and a twelve month high of $97.23. The company has a market capitalization of $9.11 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 0.64 and a beta of 1.34.
Western Alliance Bancorporation Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Thursday, May 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 19.56%.
Insider Transactions at Western Alliance Bancorporation
In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $81.00, for a total value of $481,626.00. Following the sale, the chief accounting officer directly owned 3,485 shares of the company’s stock, valued at approximately $282,285. This trade represents a 63.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.68% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently commented on WAL. Keefe, Bruyette & Woods upped their price target on Western Alliance Bancorporation from $93.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. UBS Group upped their price target on Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. TD Cowen cut Western Alliance Bancorporation from a “buy” rating to a “hold” rating and set a $83.00 price target for the company. in a research note on Monday, March 9th. Barclays dropped their price objective on Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Finally, Jefferies Financial Group reissued an “overweight” rating and issued a $105.00 target price on shares of Western Alliance Bancorporation in a report on Friday, March 6th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.93.
Check Out Our Latest Analysis on Western Alliance Bancorporation
Western Alliance Bancorporation Company Profile
Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.
The company’s core offerings include deposit products, treasury management and a variety of lending services.
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