Oddo BHF Asset Management Sas Acquires Shares of 7,388 Western Alliance Bancorporation (NYSE:WAL)

Oddo BHF Asset Management Sas bought a new stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,388 shares of the financial services provider's stock, valued at approximately $639,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in WAL. V Square Quantitative Management LLC bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth about $31,000. ORG Wealth Partners LLC acquired a new position in Western Alliance Bancorporation during the 3rd quarter worth approximately $33,000. ORG Partners LLC bought a new stake in Western Alliance Bancorporation during the 2nd quarter worth $36,000. UMB Bank n.a. increased its position in Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 249 shares during the period. Finally, Blue Trust Inc. raised 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 worth $44,000 after acquiring an additional 187 shares during the last quarter. Institutional investors own 79.15% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on WAL shares. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a "hold" rating to a "buy" rating and upped their price objective for the company from $83.00 to $101.00 in a report on Monday, October 7th. Wells Fargo & Company lifted their price objective on shares of Western Alliance Bancorporation from $92.00 to $102.00 and gave the company an "equal weight" rating in a report on Tuesday, December 3rd. Piper Sandler dropped their price objective on Western Alliance Bancorporation from $102.00 to $101.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. Barclays boosted their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Finally, Truist Financial decreased their price target on Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating for the company in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Western Alliance Bancorporation has an average rating of "Moderate Buy" and a consensus target price of $93.40.

Western Alliance Bancorporation Trading Down 0.8 %

Shares of WAL stock traded down $0.70 on Friday, reaching $89.70. 699,932 shares of the company's stock were exchanged, compared to its average volume of 654,072. The stock has a market capitalization of $9.87 billion, a PE ratio of 13.84, a P/E/G ratio of 1.41 and a beta of 1.45. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week 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 company's fifty day simple moving average is $89.09 and its 200 day simple moving average is $78.62.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10). The company had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. As a group, analysts forecast that Western Alliance Bancorporation will post 7.14 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.38 per share. The ex-dividend date was Friday, November 15th. This is a positive change from Western Alliance Bancorporation's previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 1.69%. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 23.46%.

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.