Dynamic Technology Lab Private Ltd Invests $890,000 in Western Alliance Bancorporation $WAL

Dynamic Technology Lab Private Ltd purchased a new position in Western Alliance Bancorporation (NYSE:WAL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,260 shares of the financial services provider’s stock, valued at approximately $890,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Natixis Advisors LLC lifted its position in Western Alliance Bancorporation by 11.1% during the third quarter. Natixis Advisors LLC now owns 315,052 shares of the financial services provider’s stock worth $27,321,000 after purchasing an additional 31,396 shares during the period. Barclays PLC increased its holdings in Western Alliance Bancorporation by 12.5% in the 3rd quarter. Barclays PLC now owns 216,719 shares of the financial services provider’s stock valued at $18,794,000 after buying an additional 24,144 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Western Alliance Bancorporation by 1.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,674,518 shares of the financial services provider’s stock valued at $318,655,000 after buying an additional 58,535 shares in the last quarter. Cresset Asset Management LLC acquired a new position in shares of Western Alliance Bancorporation in the 3rd quarter valued at approximately $248,000. Finally, Legato Capital Management LLC lifted its holdings in shares of Western Alliance Bancorporation by 71.2% during the 3rd quarter. Legato Capital Management LLC now owns 16,432 shares of the financial services provider’s stock worth $1,425,000 after acquiring an additional 6,832 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Down 0.7%

Shares of Western Alliance Bancorporation stock opened at $73.40 on Tuesday. The firm’s 50 day moving average is $88.35 and its 200 day moving average is $85.23. The firm has a market capitalization of $8.07 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 0.63 and a beta of 1.34. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $97.23. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $2.59 EPS for the quarter, beating the consensus estimate of $2.40 by $0.19. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. The business had revenue of $890.80 million during the quarter, compared to the consensus estimate of $912.69 million. During the same quarter in the prior year, the firm earned $1.95 EPS. The firm’s revenue was up 17.0% compared to the same quarter last year. Equities research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 20th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, February 20th. This represents a $1.68 annualized dividend and a dividend yield of 2.3%. Western Alliance Bancorporation’s dividend payout ratio is 19.24%.

Analysts Set New Price Targets

WAL has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Western Alliance Bancorporation from $98.00 to $101.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. JPMorgan Chase & Co. restated a “neutral” rating and set a $105.00 price objective (up from $100.00) on shares of Western Alliance Bancorporation in a research report on Wednesday, January 28th. Wells Fargo & Company upgraded Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $83.00 to $79.00 in a research note on Monday. Citigroup reduced their target price on Western Alliance Bancorporation from $107.00 to $103.00 and set a “buy” rating on the stock in a report on Monday. Finally, Weiss Ratings upgraded Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and an average price target of $101.07.

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.