Great West Life Assurance Co. Can purchased a new stake in Western Alliance Bancorporation (NYSE:WAL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,153 shares of the financial services provider’s stock, valued at approximately $405,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WAL. Cornerstone Advisors Inc. lifted its position in shares of Western Alliance Bancorporation by 41.9% during the 4th quarter. Cornerstone Advisors Inc. now owns 911 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 269 shares during the period. CFM Wealth Partners LLC bought a new stake in shares of Western Alliance Bancorporation during the 4th quarter valued at $97,000. IFP Advisors Inc lifted its position in shares of Western Alliance Bancorporation by 34.5% during the 4th quarter. IFP Advisors Inc now owns 1,899 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 487 shares during the period. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Western Alliance Bancorporation during the 4th quarter valued at $173,000. Finally, Arden Trust Co bought a new stake in shares of Western Alliance Bancorporation during the 4th quarter valued at $203,000. Institutional investors and hedge funds own 84.70% of the company’s stock.
In other Western Alliance Bancorporation news, CFO Dale Gibbons purchased 2,000 shares of the stock in a transaction dated Monday, March 9th. The stock was bought at an average price of $32.75 per share, with a total value of $65,500.00. Following the acquisition, the chief financial officer now owns 218,788 shares of the company’s stock, valued at $7,165,307. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James E. D. V. M. Nave purchased 10,000 shares of the stock in a transaction dated Wednesday, March 11th. The shares were acquired at an average cost of $32.99 per share, with a total value of $329,900.00. Following the acquisition, the director now directly owns 249,776 shares in the company, valued at approximately $8,240,110.24. The disclosure for this purchase can be found here. In the last three months, insiders have bought 17,500 shares of company stock valued at $575,525 and have sold 43,805 shares valued at $2,475,150. 7.72% of the stock is currently owned by insiders.
NYSE:WAL opened at $28.93 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.94 and a current ratio of 0.94. Western Alliance Bancorporation has a fifty-two week low of $20.90 and a fifty-two week high of $58.94. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 5.98, a PEG ratio of 0.36 and a beta of 1.70. The stock has a fifty day moving average price of $44.85 and a 200-day moving average price of $50.02.
Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.05. Western Alliance Bancorporation had a return on equity of 17.34% and a net margin of 38.69%. The company had revenue of $287.50 million during the quarter, compared to analysts’ expectations of $289.11 million. During the same quarter in the previous year, the firm earned $1.13 EPS. Western Alliance Bancorporation’s revenue was up 2.0% on a year-over-year basis. Research analysts predict that Western Alliance Bancorporation will post 4.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.46%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 20.66%.
A number of analysts have recently weighed in on the company. DA Davidson reiterated a “buy” rating on shares of Western Alliance Bancorporation in a research report on Monday, January 27th. ValuEngine downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Thursday. Citigroup cut their target price on Western Alliance Bancorporation from $68.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Zacks Investment Research downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Western Alliance Bancorporation currently has an average rating of “Buy” and a consensus target price of $56.00.
Western Alliance Bancorporation Profile
Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.
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