Amalgamated Bank Raises Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Amalgamated Bank increased its position in Western Alliance Bancorporation (NYSE:WAL) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 52,097 shares of the financial services provider’s stock after buying an additional 177 shares during the period. Amalgamated Bank’s holdings in Western Alliance Bancorporation were worth $4,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WAL. Fifth Third Bancorp raised its stake in Western Alliance Bancorporation by 70.1% in the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 136 shares during the last quarter. Allworth Financial LP raised its stake in Western Alliance Bancorporation by 115.6% in the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 215 shares during the last quarter. Blue Trust Inc. raised its stake in Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 187 shares during the last quarter. Covestor Ltd raised its stake in Western Alliance Bancorporation by 167.5% in the 3rd quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 397 shares during the last quarter. Finally, Principal Securities Inc. raised its stake in Western Alliance Bancorporation by 338.1% in the 4th quarter. Principal Securities Inc. now owns 679 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 524 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

NYSE:WAL opened at $87.00 on Friday. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. 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 stock has a market capitalization of $9.58 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.63 and a beta of 1.46. The stock’s 50-day moving average price is $86.80 and its 200-day moving average price is $86.13.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. As a group, equities analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s payout ratio is 21.41%.

Wall Street Analysts Forecast Growth

WAL has been the subject of a number of research analyst reports. StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday. Barclays increased their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Stephens reaffirmed an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. JPMorgan Chase & Co. cut their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Piper Sandler increased their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and a consensus target price of $98.07.

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.