Angel Oak Capital Advisors LLC Buys New Shares in Western Alliance Bancorporation (NYSE:WAL)

Angel Oak Capital Advisors LLC acquired a new stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,000 shares of the financial services provider's stock, valued at approximately $919,000. Western Alliance Bancorporation comprises approximately 1.2% of Angel Oak Capital Advisors LLC's portfolio, making the stock its 16th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WAL. Venturi Wealth Management LLC raised its position in shares of Western Alliance Bancorporation by 86.4% in the fourth quarter. Venturi Wealth Management LLC now owns 5,649 shares of the financial services provider's stock valued at $472,000 after buying an additional 2,618 shares during the last quarter. CIBC Asset Management Inc grew its stake in Western Alliance Bancorporation by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,387 shares of the financial services provider's stock worth $283,000 after acquiring an additional 167 shares during the period. Sanctuary Advisors LLC increased its stake in Western Alliance Bancorporation by 4.3% in the fourth quarter. Sanctuary Advisors LLC now owns 7,431 shares of the financial services provider's stock valued at $664,000 after purchasing an additional 306 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Western Alliance Bancorporation by 18.5% in the 4th quarter. Principal Financial Group Inc. now owns 609,941 shares of the financial services provider's stock valued at $50,954,000 after buying an additional 95,173 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in shares of Western Alliance Bancorporation by 0.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 36,258 shares of the financial services provider's stock valued at $3,029,000 after acquiring an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stephens reaffirmed an "overweight" rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. JPMorgan Chase & Co. cut their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company reduced their target price on Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating on the stock in a report on Monday, January 6th. Piper Sandler upped their price target 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. Finally, DA Davidson reduced their price objective on Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.07.

Western Alliance Bancorporation Stock Performance

NYSE WAL traded down $0.54 during trading hours on Friday, hitting $89.19. The company had a trading volume of 37,402 shares, compared to its average volume of 1,153,253. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The firm has a market cap of $9.82 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 0.65 and a beta of 1.46. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. The business has a fifty day simple moving average of $86.85 and a 200-day simple moving average of $85.59.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Equities analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.70%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 21.41%.

About Western Alliance Bancorporation

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.