Parkside Financial Bank & Trust Has $92,000 Holdings in Western Alliance Bancorporation (NYSE:WAL)

Parkside Financial Bank & Trust lifted its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 49.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,402 shares of the financial services provider’s stock after purchasing an additional 462 shares during the period. Parkside Financial Bank & Trust’s holdings in Western Alliance Bancorporation were worth $92,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of WAL. AE Wealth Management LLC acquired a new position in shares of Western Alliance Bancorporation during the third quarter worth $1,173,000. Handelsbanken Fonder AB lifted its holdings in shares of Western Alliance Bancorporation by 9.5% during the third quarter. Handelsbanken Fonder AB now owns 17,360 shares of the financial services provider’s stock worth $798,000 after purchasing an additional 1,500 shares during the period. Peregrine Capital Management LLC acquired a new position in shares of Western Alliance Bancorporation during the third quarter worth $9,941,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Western Alliance Bancorporation by 5.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 8,880 shares of the financial services provider’s stock worth $408,000 after purchasing an additional 487 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Western Alliance Bancorporation by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 636,814 shares of the financial services provider’s stock worth $29,274,000 after purchasing an additional 18,178 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Down 1.3 %

NYSE:WAL opened at $58.58 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93. The firm has a 50-day moving average of $59.33 and a 200-day moving average of $56.85. The company has a market cap of $6.45 billion, a PE ratio of 8.54 and a beta of 1.47. Western Alliance Bancorporation has a one year low of $11.35 and a one year high of $70.23.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.69 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. During the same period in the previous year, the firm posted $2.30 earnings per share. As a group, equities research analysts expect that Western Alliance Bancorporation will post 7.67 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, February 15th. Western Alliance Bancorporation’s payout ratio is presently 21.57%.

Analysts Set New Price Targets

WAL has been the topic of several recent analyst reports. DA Davidson dropped their target price on shares of Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating on the stock in a report on Monday. Truist Financial dropped their target price on shares of Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Monday. Keefe, Bruyette & Woods dropped their target price on shares of Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating on the stock in a report on Monday. Jefferies Financial Group dropped their target price on shares of Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Finally, Hovde Group initiated coverage on shares of Western Alliance Bancorporation in a report on Monday. They issued an “outperform” rating and a $75.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.56.

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.