Tidal Investments LLC Buys 31,142 Shares of Western Alliance Bancorporation $WAL

Tidal Investments LLC lifted its stake in Western Alliance Bancorporation (NYSE:WAL) by 41.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,374 shares of the financial services provider’s stock after buying an additional 31,142 shares during the period. Tidal Investments LLC’s holdings in Western Alliance Bancorporation were worth $8,744,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new position in Western Alliance Bancorporation during the 2nd quarter worth approximately $26,000. Clearstead Advisors LLC lifted its position in Western Alliance Bancorporation by 144.6% in the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 243 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Western Alliance Bancorporation during the fourth quarter valued at approximately $38,000. Assetmark Inc. boosted its stake in shares of Western Alliance Bancorporation by 86.0% during the first quarter. Assetmark Inc. now owns 560 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 259 shares during the period. Finally, Compound Global Advisors LLC bought a new position in shares of Western Alliance Bancorporation in the second quarter worth approximately $41,000. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

Shares of Western Alliance Bancorporation stock opened at $79.27 on Friday. The business has a 50 day moving average of $80.93 and a 200 day moving average of $78.77. Western Alliance Bancorporation has a 52 week low of $65.82 and a 52 week high of $97.23. The company has a market cap of $8.65 billion, a PE ratio of 8.93, a P/E/G ratio of 0.76 and a beta of 1.33. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 0.93.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share for the quarter, meeting the consensus estimate of $2.36. The business had revenue of $995.70 million for the quarter, compared to analysts’ expectations of $980.53 million. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.40%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.07 earnings per share. As a group, equities research analysts forecast that Western Alliance Bancorporation will post 9.16 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, August 13th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 18.92%.

Analysts Set New Price Targets

WAL has been the topic of several analyst reports. Mizuho set a $96.00 target price on shares of Western Alliance Bancorporation in a research note on Thursday, July 23rd. TD Cowen raised their price target on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, July 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Western Alliance Bancorporation in a research report on Friday, August 21st. Citigroup upped their price objective on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Finally, Truist Financial increased their target price on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.47.

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 and financial services to businesses, entrepreneurs, professionals and individual customers.

Western Alliance Bank offers commercial and industrial lending, commercial real estate financing, treasury management, deposit products, mortgage warehouse lending and other specialized banking services. Its business lines also serve technology companies, life sciences firms, entertainment businesses, homeowners’ associations, institutional investors and other niche markets.

The company serves customers through a combination of relationship-focused regional banking and specialized national platforms.