Compound Global Advisors LLC Takes Position in Western Alliance Bancorporation (NYSE:WAL)

Compound Global Advisors LLC bought a new stake in Western Alliance Bancorporation (NYSE:WAL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 13,357 shares of the financial services provider’s stock, valued at approximately $1,116,000. Western Alliance Bancorporation makes up 4.5% of Compound Global Advisors LLC’s portfolio, making the stock its 7th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in WAL. Retirement Systems of Alabama purchased a new position in Western Alliance Bancorporation during the third quarter worth approximately $11,461,000. Franklin Resources Inc. lifted its position in Western Alliance Bancorporation by 17.0% during the third quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider’s stock worth $27,970,000 after buying an additional 45,764 shares in the last quarter. Mutual of America Capital Management LLC purchased a new position in Western Alliance Bancorporation during the third quarter worth approximately $5,099,000. BNP Paribas Financial Markets lifted its position in Western Alliance Bancorporation by 1,091.8% during the third quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider’s stock worth $2,947,000 after buying an additional 31,214 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in Western Alliance Bancorporation during the third quarter worth approximately $623,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays lifted their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Piper Sandler raised their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Truist Financial cut their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Stephens reissued an “overweight” rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. cut their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.07.

Western Alliance Bancorporation Trading Down 2.6 %

Shares of NYSE WAL opened at $87.56 on Tuesday. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10. 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 stock has a fifty day simple moving average of $87.36 and a 200-day simple moving average of $85.03. The stock has a market capitalization of $9.64 billion, a PE ratio of 12.33, a PEG ratio of 0.64 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last released its 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 return on equity of 13.14% and a net margin of 15.49%. On average, equities analysts forecast that Western Alliance Bancorporation will post 8.99 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.74%. Western Alliance Bancorporation’s payout ratio is 21.41%.

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.