Western Alliance Bancorporation (NYSE:WAL) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC increased its holdings in Western Alliance Bancorporation (NYSE:WAL) by 4,675.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,495 shares of the financial services provider’s stock after acquiring an additional 203,150 shares during the quarter. Tidal Investments LLC owned approximately 0.19% of Western Alliance Bancorporation worth $17,334,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Point72 Europe London LLP increased its holdings in shares of Western Alliance Bancorporation by 6.6% in the 4th quarter. Point72 Europe London LLP now owns 90,643 shares of the financial services provider’s stock valued at $7,572,000 after acquiring an additional 5,643 shares during the period. Nicholas Investment Partners LP grew its position in Western Alliance Bancorporation by 12.7% in the 4th quarter. Nicholas Investment Partners LP now owns 174,582 shares of the financial services provider’s stock valued at $14,585,000 after buying an additional 19,639 shares during the last quarter. New York State Common Retirement Fund grew its position in Western Alliance Bancorporation by 9.3% in the 4th quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider’s stock valued at $8,090,000 after buying an additional 8,201 shares during the last quarter. Norden Group LLC purchased a new position in Western Alliance Bancorporation in the 4th quarter valued at $727,000. Finally, Focus Partners Wealth grew its position in Western Alliance Bancorporation by 5.2% in the 4th 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. 79.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WAL shares. Barclays lowered their price objective on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Piper Sandler lifted their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada lowered their price objective on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Truist Financial started coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, May 13th. They issued a “buy” rating and a $92.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and a consensus target price of $96.38.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $78.31 on Monday. The stock has a market cap of $8.65 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30. Western Alliance Bancorporation has a fifty-two week low of $56.70 and a fifty-two week high of $98.10. The firm’s fifty day simple moving average is $71.85 and its 200-day simple moving average is $82.10. 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 (NYSE:WAL) last issued its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.01. The firm had revenue of $790.10 million for the quarter, compared to analysts’ expectations of $792.25 million. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. During the same period in the prior year, the company earned $1.72 EPS. Analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be paid a $0.38 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.94%. Western Alliance Bancorporation’s payout ratio is 20.85%.

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.