Rafferty Asset Management LLC Has $10.56 Million Position in Western Alliance Bancorporation $WAL

Rafferty Asset Management LLC lessened its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 19.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 121,774 shares of the financial services provider’s stock after selling 29,168 shares during the period. Rafferty Asset Management LLC owned 0.11% of Western Alliance Bancorporation worth $10,560,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in WAL. Halbert Hargrove Global Advisors LLC bought a new position in shares of Western Alliance Bancorporation in the 3rd quarter worth $26,000. Quent Capital LLC acquired a new position in Western Alliance Bancorporation in the third quarter valued at about $26,000. Salomon & Ludwin LLC acquired a new position in Western Alliance Bancorporation in the third quarter valued at about $27,000. Root Financial Partners LLC bought a new position in Western Alliance Bancorporation during the third quarter worth about $27,000. Finally, Smartleaf Asset Management LLC grew its position in shares of Western Alliance Bancorporation by 113.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 443 shares of the financial services provider’s stock worth $39,000 after buying an additional 235 shares during the period. Institutional investors own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WAL shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $105.00 price objective (up from $100.00) on shares of Western Alliance Bancorporation in a research note on Wednesday, January 28th. iA Financial set a $101.00 price target on shares of Western Alliance Bancorporation in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods boosted their price target on shares of Western Alliance Bancorporation from $98.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. TD Cowen dropped their price objective on Western Alliance Bancorporation from $109.00 to $108.00 and set a “buy” rating on the stock in a research note on Wednesday, January 7th. Finally, UBS Group set a $106.00 target price on Western Alliance Bancorporation in a report on Wednesday, February 4th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $103.73.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock opened at $80.49 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.85 and a quick ratio of 0.80. The firm has a market cap of $8.84 billion, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 0.68 and a beta of 1.34. The stock’s 50-day moving average is $89.32 and its 200-day moving average is $85.40. Western Alliance Bancorporation has a one year low of $57.05 and a one year high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Tuesday, January 27th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.19. The business had revenue of $980.90 million for the quarter, compared to analyst estimates of $912.69 million. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.Western Alliance Bancorporation’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.95 EPS. Equities analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 20th will be issued a $0.42 dividend. The ex-dividend date is Friday, February 20th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 19.24%.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.