Guggenheim Capital LLC Purchases 6,206 Shares of Western Alliance Bancorporation (NYSE:WAL)

Guggenheim Capital LLC grew its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 236.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,836 shares of the financial services provider's stock after acquiring an additional 6,206 shares during the quarter. Guggenheim Capital LLC's holdings in Western Alliance Bancorporation were worth $738,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Barclays PLC raised its position in Western Alliance Bancorporation by 167.1% in the 4th quarter. Barclays PLC now owns 329,603 shares of the financial services provider's stock worth $27,536,000 after purchasing an additional 206,191 shares during the period. Townsquare Capital LLC increased its holdings in shares of Western Alliance Bancorporation by 388.5% in the fourth quarter. Townsquare Capital LLC now owns 41,444 shares of the financial services provider's stock worth $3,462,000 after buying an additional 32,960 shares during the period. Next Century Growth Investors LLC boosted its holdings in Western Alliance Bancorporation by 116.9% during the 4th quarter. Next Century Growth Investors LLC now owns 150,029 shares of the financial services provider's stock valued at $12,533,000 after acquiring an additional 80,873 shares during the period. Rockefeller Capital Management L.P. grew its position in Western Alliance Bancorporation by 34.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 233,549 shares of the financial services provider's stock worth $19,511,000 after acquiring an additional 59,383 shares during the last quarter. Finally, Sterling Capital Management LLC increased its stake in Western Alliance Bancorporation by 26.3% in the 4th quarter. Sterling Capital Management LLC now owns 10,903 shares of the financial services provider's stock worth $911,000 after purchasing an additional 2,269 shares during the period. Hedge funds and other institutional investors own 79.15% of the company's stock.

Analyst Ratings Changes

WAL has been the subject of a number of analyst reports. Piper Sandler increased their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Royal Bank of Canada cut their price target on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. DA Davidson lowered their price objective on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Stephens reaffirmed an "overweight" rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Western Alliance Bancorporation presently has a consensus rating of "Moderate Buy" and an average price target of $96.62.

Western Alliance Bancorporation Stock Up 1.2 %

Shares of NYSE:WAL traded up $0.84 during midday trading on Tuesday, reaching $71.24. The company's stock had a trading volume of 236,204 shares, compared to its average volume of 1,213,726. 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 firm has a 50 day moving average of $74.09 and a 200-day moving average of $83.18. The firm has a market capitalization of $7.87 billion, a P/E ratio of 10.04, a PEG ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a 12-month low of $56.70 and a 12-month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.01. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. The business had revenue of $790.10 million for the quarter, compared to analysts' expectations of $792.25 million. During the same quarter in the prior year, the company earned $1.72 earnings per share. On average, research analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.13%. Western Alliance Bancorporation's dividend payout ratio is currently 20.85%.

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.