Victory Capital Management Inc. Acquires 11,978 Shares of Western Alliance Bancorporation (NYSE:WAL)

Victory Capital Management Inc. increased its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 66.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,079 shares of the financial services provider's stock after buying an additional 11,978 shares during the quarter. Victory Capital Management Inc.'s holdings in Western Alliance Bancorporation were worth $2,513,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Crossmark Global Holdings Inc. bought a new position in shares of Western Alliance Bancorporation during the third quarter valued at $473,000. Entropy Technologies LP acquired a new position in Western Alliance Bancorporation in the third quarter valued at about $254,000. KBC Group NV grew its stake in Western Alliance Bancorporation by 15.2% during the third quarter. KBC Group NV now owns 2,779 shares of the financial services provider's stock worth $240,000 after buying an additional 367 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of Western Alliance Bancorporation in the third quarter valued at approximately $278,000. Finally, Natixis Advisors LLC raised its stake in shares of Western Alliance Bancorporation by 15.1% in the third quarter. Natixis Advisors LLC now owns 335,496 shares of the financial services provider's stock valued at $29,018,000 after acquiring an additional 44,106 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on WAL. UBS Group assumed coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a "buy" rating and a $115.00 price objective on the stock. Stephens reissued an "overweight" rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. JPMorgan Chase & Co. lowered their price objective on shares of 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. Finally, Piper Sandler raised their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. 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, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and an average price target of $98.07.

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Western Alliance Bancorporation Trading Down 0.2 %

Shares of NYSE WAL traded down $0.14 during midday trading on Thursday, reaching $76.64. 419,849 shares of the stock were exchanged, compared to its average volume of 1,154,414. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 0.63 and a beta of 1.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The business has a 50-day simple moving average of $85.19 and a two-hundred day simple moving average of $86.05.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. As a group, equities research analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced 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 was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.98%. Western Alliance Bancorporation's payout ratio is 21.41%.

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.