995 Shares in Western Alliance Bancorporation (NYSE:WAL) Bought by Rakuten Securities Inc.

Rakuten Securities Inc. acquired a new stake in Western Alliance Bancorporation (NYSE:WAL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 995 shares of the financial services provider’s stock, valued at approximately $65,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp increased its holdings in shares of Western Alliance Bancorporation by 44.4% in the 1st quarter. State Street Corp now owns 4,056,477 shares of the financial services provider’s stock valued at $144,167,000 after acquiring an additional 1,246,855 shares during the period. Norges Bank purchased a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at approximately $68,940,000. Barclays PLC increased its holdings in shares of Western Alliance Bancorporation by 489.0% in the third quarter. Barclays PLC now owns 1,333,881 shares of the financial services provider’s stock valued at $61,320,000 after purchasing an additional 1,107,431 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of Western Alliance Bancorporation during the first quarter worth approximately $32,430,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Western Alliance Bancorporation by 21.5% during the first quarter. Wellington Management Group LLP now owns 4,971,314 shares of the financial services provider’s stock worth $411,724,000 after purchasing an additional 880,430 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on WAL shares. Royal Bank of Canada reissued an “outperform” rating and issued a $78.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, April 9th. Barclays assumed coverage on Western Alliance Bancorporation in a report on Friday, March 8th. They issued an “overweight” rating and a $91.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Truist Financial reiterated a “buy” rating and issued a $80.00 price objective on shares of Western Alliance Bancorporation in a research report on Monday, April 1st. Finally, Wells Fargo & Company decreased their target price on shares of Western Alliance Bancorporation from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.60.

Western Alliance Bancorporation Stock Performance

Western Alliance Bancorporation stock opened at $55.46 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96. Western Alliance Bancorporation has a fifty-two week low of $11.35 and a fifty-two week high of $70.23. The stock has a fifty day moving average of $59.64 and a two-hundred day moving average of $56.32. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 8.48 and a beta of 1.47.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Friday, January 26th. The financial services provider reported $1.91 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.02). Western Alliance Bancorporation had a net margin of 16.74% and a return on equity of 16.33%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $705.97 million. During the same period in the previous year, the firm posted $2.67 EPS. On average, analysts anticipate that Western Alliance Bancorporation will post 7.88 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a $0.37 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.48 annualized dividend and a yield of 2.67%. Western Alliance Bancorporation’s payout ratio is currently 22.63%.

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.