Western Alliance Bancorporation $WAL Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 134.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 113,570 shares of the financial services provider’s stock after buying an additional 65,204 shares during the quarter. Hsbc Holdings PLC’s holdings in Western Alliance Bancorporation were worth $9,333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in Western Alliance Bancorporation during the second quarter valued at about $926,898,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Western Alliance Bancorporation by 9.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,746,867 shares of the financial services provider’s stock worth $735,350,000 after purchasing an additional 777,369 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Western Alliance Bancorporation by 7.9% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,450,408 shares of the financial services provider’s stock valued at $542,286,000 after purchasing an additional 470,492 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Western Alliance Bancorporation by 3.4% in the 3rd quarter. Invesco Ltd. now owns 6,016,027 shares of the financial services provider’s stock valued at $521,710,000 after purchasing an additional 197,854 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Western Alliance Bancorporation by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,813,995 shares of the financial services provider’s stock worth $270,203,000 after purchasing an additional 36,534 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WAL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. TD Cowen lifted their price target on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, July 27th. DA Davidson set a $36.00 price objective on shares of Western Alliance Bancorporation in a research note on Wednesday, July 22nd. Stephens set a $95.00 price objective on shares of Western Alliance Bancorporation and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Stifel Nicolaus set a $95.00 target price on shares of Western Alliance Bancorporation in a research note on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.47.

Western Alliance Bancorporation Stock Performance

Shares of NYSE:WAL opened at $79.61 on Thursday. The business’s 50-day simple moving average is $81.01 and its 200 day simple moving average is $78.86. The company has a market cap of $8.69 billion, a P/E ratio of 8.97, a PEG ratio of 0.77 and a beta of 1.33. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.81 and a current ratio of 0.86. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23.

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, hitting analysts’ consensus estimates of $2.36. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The firm had revenue of $995.70 million during the quarter, compared to analysts’ expectations of $980.53 million. During the same quarter in the prior year, the business earned $2.07 EPS. Western Alliance Bancorporation’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, sell-side analysts forecast that Western Alliance Bancorporation will post 9.16 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

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

Western Alliance Bancorporation 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 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.