Dynamic Technology Lab Private Ltd Buys New Stake in Western Alliance Bancorporation (NYSE:WAL)

Dynamic Technology Lab Private Ltd purchased a new position in Western Alliance Bancorporation (NYSE:WAL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,200 shares of the financial services provider's stock, valued at approximately $434,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WAL. Captrust Financial Advisors boosted its holdings in shares of Western Alliance Bancorporation by 11.2% during the 3rd quarter. Captrust Financial Advisors now owns 7,512 shares of the financial services provider's stock worth $650,000 after purchasing an additional 758 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Western Alliance Bancorporation during the third quarter worth $463,000. Quantinno Capital Management LP grew its holdings in Western Alliance Bancorporation by 26.2% in the 3rd quarter. Quantinno Capital Management LP now owns 31,772 shares of the financial services provider's stock valued at $2,748,000 after buying an additional 6,605 shares in the last quarter. State Street Corp increased its stake in shares of Western Alliance Bancorporation by 46.2% in the 3rd quarter. State Street Corp now owns 4,488,345 shares of the financial services provider's stock worth $388,197,000 after acquiring an additional 1,418,472 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its holdings in shares of Western Alliance Bancorporation by 368.4% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 19,679 shares of the financial services provider's stock worth $1,682,000 after acquiring an additional 15,478 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

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Western Alliance Bancorporation Stock Down 0.3 %

WAL stock traded down $0.16 during midday trading on Friday, hitting $63.07. The company's stock had a trading volume of 1,531,256 shares, compared to its average volume of 1,214,046. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The firm has a 50-day simple moving average of $79.44 and a 200-day simple moving average of $84.70. 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 capitalization of $6.97 billion, a P/E ratio of 8.88, a PEG ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) 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%. As a group, equities analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.41%. Western Alliance Bancorporation's payout ratio is 21.41%.

Analyst Ratings Changes

WAL has been the topic of a number of analyst reports. Stephens reaffirmed an "overweight" rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Piper Sandler lifted their price target 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. DA Davidson lowered their price objective on Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. UBS Group assumed coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a "buy" rating and a $115.00 target price on the stock. Finally, Wells Fargo & Company lowered their price target on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.40.

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.