Quantinno Capital Management LP Acquires 6,605 Shares of Western Alliance Bancorporation (NYSE:WAL)

Quantinno Capital Management LP increased its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 26.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,772 shares of the financial services provider's stock after acquiring an additional 6,605 shares during the period. Quantinno Capital Management LP's holdings in Western Alliance Bancorporation were worth $2,748,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WAL. Blue Trust Inc. lifted its stake in shares of Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 187 shares during the period. 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 buying an additional 249 shares in the last quarter. Signaturefd LLC boosted its holdings in Western Alliance Bancorporation by 18.7% in the third quarter. Signaturefd LLC now owns 1,598 shares of the financial services provider's stock worth $138,000 after acquiring an additional 252 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of Western Alliance Bancorporation by 5.7% during the third quarter. Wedmont Private Capital now owns 5,102 shares of the financial services provider's stock valued at $429,000 after acquiring an additional 276 shares in the last quarter. Finally, Creative Planning lifted its holdings in shares of Western Alliance Bancorporation by 6.1% in the 2nd quarter. Creative Planning now owns 5,756 shares of the financial services provider's stock worth $362,000 after purchasing an additional 330 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Price Performance

Shares of WAL stock traded down $0.71 during trading on Tuesday, hitting $90.95. The company had a trading volume of 399,088 shares, compared to its average volume of 1,268,556. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 1.47 and a beta of 1.45. 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 stock's 50-day moving average is $88.54 and its two-hundred day moving average is $77.96.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing analysts' consensus estimates of $1.90 by ($0.10). The firm had revenue of $833.10 million during 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 predict that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.67%. This is an increase from Western Alliance Bancorporation's previous quarterly dividend of $0.37. The ex-dividend date was Friday, November 15th. Western Alliance Bancorporation's dividend payout ratio is 23.46%.

Analysts Set New Price Targets

WAL has been the subject of a number of analyst reports. Piper Sandler cut their price target on Western Alliance Bancorporation from $102.00 to $101.00 and set an "overweight" rating for the company in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a "hold" rating to a "buy" rating and increased their target price for the company from $83.00 to $101.00 in a report on Monday, October 7th. Royal Bank of Canada set a $99.00 price objective on shares of Western Alliance Bancorporation and gave the stock an "outperform" rating in a research report on Friday, October 18th. JPMorgan Chase & Co. cut their target price on Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. Finally, Wells Fargo & Company boosted their price objective on Western Alliance Bancorporation from $92.00 to $102.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Western Alliance Bancorporation has a consensus rating of "Moderate Buy" and a consensus price target of $93.40.

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.