Western Alliance Bancorporation (NYSE:WAL) Stock Position Boosted by Generate Investment Management Ltd

Generate Investment Management Ltd boosted its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 417,075 shares of the financial services provider's stock after buying an additional 2,772 shares during the quarter. Western Alliance Bancorporation makes up about 2.4% of Generate Investment Management Ltd's holdings, making the stock its 10th largest position. Generate Investment Management Ltd owned about 0.38% of Western Alliance Bancorporation worth $34,842,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Creative Planning lifted its position in shares of Western Alliance Bancorporation by 6.1% during the second quarter. Creative Planning now owns 5,756 shares of the financial services provider's stock worth $362,000 after acquiring an additional 330 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Western Alliance Bancorporation during the second quarter valued at about $221,000. SG Americas Securities LLC purchased a new stake in shares of Western Alliance Bancorporation in the 3rd quarter valued at $722,000. GAMMA Investing LLC grew its holdings in shares of Western Alliance Bancorporation by 124.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,134 shares of the financial services provider's stock valued at $98,000 after purchasing an additional 628 shares during the last quarter. Finally, Atomi Financial Group Inc. purchased a new stake in Western Alliance Bancorporation during the third quarter valued at about $229,000. 79.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on WAL shares. Royal Bank of Canada set a $99.00 price target on Western Alliance Bancorporation and gave the stock an "outperform" rating in a research note on Friday, October 18th. DA Davidson cut their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. 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 report on Tuesday, January 7th. UBS Group started coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a "buy" rating and a $115.00 target price for the company. Finally, Piper Sandler upped their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $98.07.

Western Alliance Bancorporation Price Performance

WAL stock traded up $1.46 during midday trading on Tuesday, hitting $89.06. The company's stock had a trading volume of 206,290 shares, compared to its average volume of 1,198,015. The firm has a market capitalization of $9.80 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The company has a 50 day moving average of $87.24 and a two-hundred day moving average of $85.09.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating 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, analysts expect that Western Alliance Bancorporation will post 8.99 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.71%. Western Alliance Bancorporation's dividend payout ratio (DPR) is 21.41%.

About Western Alliance Bancorporation

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.