LSV Asset Management Has $2.85 Million Stake in Western Alliance Bancorporation $WAL

LSV Asset Management trimmed its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 25.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,900 shares of the financial services provider’s stock after selling 11,000 shares during the period. LSV Asset Management’s holdings in Western Alliance Bancorporation were worth $2,853,000 at the end of the most recent quarter.

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

Western Alliance Bancorporation Trading Down 1.3%

Shares of NYSE:WAL opened at $93.07 on Tuesday. The firm has a market cap of $10.24 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 0.79 and a beta of 1.37. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $97.23. The company’s fifty day simple moving average is $88.64 and its 200 day simple moving average is $84.72. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 0.83.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Monday, January 26th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.19. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.The firm had revenue of $980.90 million during the quarter, compared to analysts’ expectations of $912.69 million. During the same quarter in the prior year, the company earned $1.95 EPS. The company’s revenue was up 17.0% on a year-over-year basis. As a group, research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, February 20th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 19.24%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted their target price on Western Alliance Bancorporation from $98.00 to $101.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Truist Financial set a $98.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, January 9th. Jefferies Financial Group lifted their price target on shares of Western Alliance Bancorporation from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. TD Cowen decreased their price target on shares of Western Alliance Bancorporation from $109.00 to $108.00 and set a “buy” rating for the company in a report on Wednesday, January 7th. Finally, iA Financial set a $101.00 price objective on Western Alliance Bancorporation in a research note on Wednesday, January 28th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $103.73.

About Western Alliance Bancorporation

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.