GFG Capital LLC Invests $298,000 in Western Alliance Bancorporation (NYSE:WAL)

GFG Capital LLC acquired a new stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,570 shares of the financial services provider's stock, valued at approximately $298,000.

A number of other hedge funds also recently bought and sold shares of the business. Fifth Third Bancorp increased its position in Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 136 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter valued at about $31,000. Blue Trust Inc. increased its position in shares of Western Alliance Bancorporation by 58.4% during the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock valued at $44,000 after buying an additional 187 shares during the period. Covestor Ltd raised its stake in Western Alliance Bancorporation by 167.5% in the third quarter. Covestor Ltd now owns 634 shares of the financial services provider's stock worth $55,000 after buying an additional 397 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Western Alliance Bancorporation by 196.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 920 shares of the financial services provider's stock worth $80,000 after buying an additional 610 shares during the period. Hedge funds and other institutional investors own 79.15% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on WAL. UBS Group started coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a "buy" rating and a $115.00 target price for the company. JPMorgan Chase & Co. lowered their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Wells Fargo & Company reduced their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Monday, January 6th. Stephens reissued an "overweight" rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Finally, Truist Financial cut their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating on the stock in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Western Alliance Bancorporation presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.07.

Western Alliance Bancorporation Stock Up 3.2 %

WAL stock traded up $2.81 during midday trading on Tuesday, hitting $91.56. The company's stock had a trading volume of 1,370,524 shares, compared to its average volume of 1,174,959. The firm's 50-day moving average is $86.79 and its 200-day moving average is $85.38. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The company has a market cap of $10.08 billion, a PE ratio of 12.90, a P/E/G ratio of 0.64 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 research analysts forecast that Western Alliance Bancorporation will post 8.99 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business 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. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Friday, February 14th. Western Alliance Bancorporation's payout ratio is presently 21.41%.

Western Alliance Bancorporation Company 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.