Quantbot Technologies LP Acquires New Position in Western Alliance Bancorporation (NYSE:WAL)

Quantbot Technologies LP acquired a new position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 39,059 shares of the financial services provider's stock, valued at approximately $3,263,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC raised its holdings in Western Alliance Bancorporation by 3.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider's stock valued at $260,000 after acquiring an additional 114 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Western Alliance Bancorporation by 56.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after purchasing an additional 117 shares during the period. Fifth Third Bancorp grew its holdings in Western Alliance Bancorporation by 70.1% during the fourth 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. Versant Capital Management Inc raised its stake in Western Alliance Bancorporation by 13.4% in the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider's stock valued at $111,000 after acquiring an additional 157 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in Western Alliance Bancorporation by 1.0% during the 4th quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider's stock valued at $1,359,000 after acquiring an additional 163 shares during the period. Institutional investors and hedge funds own 79.15% of the company's stock.

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Analyst Upgrades and Downgrades

WAL has been the subject of a number of recent analyst reports. UBS Group began coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a "buy" rating and a $115.00 price target for the company. 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. Stephens restated an "overweight" rating and issued a $103.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. StockNews.com upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, Wells Fargo & Company dropped their price target on 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. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $98.07.

Western Alliance Bancorporation Stock Performance

Shares of NYSE:WAL traded down $1.94 on Thursday, hitting $78.00. The company's stock had a trading volume of 800,990 shares, compared to its average volume of 1,146,399. The company has a market capitalization of $8.62 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43. The stock's 50-day moving average is $84.89 and its two-hundred day moving average is $86.02. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 EPS 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%. On average, equities research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared 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 of this dividend was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.95%. Western Alliance Bancorporation's dividend payout ratio is 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.