13,768 Shares of Western Alliance Bancorporation $WAL Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP acquired a new position in Western Alliance Bancorporation (NYSE:WAL) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 13,768 shares of the financial services provider’s stock, valued at approximately $1,043,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Western Alliance Bancorporation in the 2nd quarter valued at about $174,329,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Western Alliance Bancorporation during the 2nd quarter worth approximately $1,877,000. Hsbc Holdings PLC grew its position in shares of Western Alliance Bancorporation by 134.8% during the 2nd quarter. Hsbc Holdings PLC now owns 113,570 shares of the financial services provider’s stock worth $9,333,000 after buying an additional 65,204 shares during the period. Bank of America Corp DE bought a new stake in shares of Western Alliance Bancorporation during the second quarter worth approximately $96,977,000. Finally, Cibc World Market Inc. bought a new stake in shares of Western Alliance Bancorporation during the second quarter worth approximately $2,096,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Truist Financial cut their price objective on shares of Western Alliance Bancorporation from $93.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Raymond James Financial started coverage on shares of Western Alliance Bancorporation in a report on Tuesday, September 22nd. They set an “outperform” rating and a $90.00 target price for the company. Wall Street Zen lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, November 7th. Barclays upped their target price on shares of Western Alliance Bancorporation from $93.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, November 3rd. Finally, Bank of America cut their price target on Western Alliance Bancorporation from $91.00 to $87.00 in a research note on Thursday, October 8th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and an average price target of $92.44.

Western Alliance Bancorporation Price Performance

Shares of WAL opened at $75.73 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.87. Western Alliance Bancorporation has a 1 year low of $65.82 and a 1 year high of $97.23. The stock has a market cap of $8.14 billion, a P/E ratio of 8.05, a price-to-earnings-growth ratio of 0.76 and a beta of 1.43. The stock’s 50-day moving average price is $76.78 and its two-hundred day moving average price is $79.51.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Monday, October 19th. The financial services provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.02. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $987.91 million. Western Alliance Bancorporation had a return on equity of 13.50% and a net margin of 17.34%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.28 EPS. On average, equities analysts predict that Western Alliance Bancorporation will post 9.04 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, November 12th. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.42. Western Alliance Bancorporation’s payout ratio is 18.56%.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona, and the parent of Western Alliance Bank. The company provides commercial banking and related financial services to businesses, business owners and individuals. Its services include business and commercial real estate lending, deposit accounts, treasury management, and specialized banking for industries such as technology, healthcare, and property management. Through its banking divisions and specialized business lines, Western Alliance serves clients across the western United States and beyond.