Shelton Capital Management Makes New $344,000 Investment in Western Alliance Bancorporation (NYSE:WAL)

Shelton Capital Management bought a new position in Western Alliance Bancorporation (NYSE:WAL - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 4,117 shares of the financial services provider's stock, valued at approximately $344,000.

Several other hedge funds have also bought and sold shares of WAL. Invesco Ltd. boosted its stake in shares of Western Alliance Bancorporation by 5.1% in the fourth quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider's stock worth $479,207,000 after acquiring an additional 278,041 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in shares of Western Alliance Bancorporation by 4.5% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider's stock worth $157,369,000 after acquiring an additional 81,238 shares during the last quarter. Geode Capital Management LLC lifted its stake in Western Alliance Bancorporation by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,880,681 shares of the financial services provider's stock worth $162,701,000 after purchasing an additional 120,729 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Western Alliance Bancorporation by 55.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock valued at $151,604,000 after purchasing an additional 648,983 shares in the last quarter. Finally, Norges Bank purchased a new position in Western Alliance Bancorporation during the 4th quarter valued at approximately $109,298,000. Institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Price Performance

Shares of Western Alliance Bancorporation stock traded down $0.22 on Wednesday, hitting $65.85. The company's stock had a trading volume of 209,533 shares, compared to its average volume of 1,212,735. The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. The firm has a fifty day moving average price of $77.98 and a 200-day moving average price of $84.27. 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 has a 1 year low of $53.75 and a 1 year high of $98.10.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. As a group, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio is currently 21.41%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays lowered their price objective on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Piper Sandler upped their price objective on 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 dropped their target price on Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. StockNews.com raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company dropped their price target on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $96.40.

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.