Tidal Investments LLC Grows Holdings in Western Alliance Bancorporation (NYSE:WAL)

Tidal Investments LLC raised its position in Western Alliance Bancorporation (NYSE:WAL) by 4,675.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,495 shares of the financial services provider’s stock after purchasing an additional 203,150 shares during the period. Tidal Investments LLC’s holdings in Western Alliance Bancorporation were worth $17,334,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Europe London LLP lifted its holdings in Western Alliance Bancorporation by 6.6% in the 4th quarter. Point72 Europe London LLP now owns 90,643 shares of the financial services provider’s stock valued at $7,572,000 after purchasing an additional 5,643 shares in the last quarter. Nicholas Investment Partners LP lifted its holdings in shares of Western Alliance Bancorporation by 12.7% during the 4th quarter. Nicholas Investment Partners LP now owns 174,582 shares of the financial services provider’s stock worth $14,585,000 after acquiring an additional 19,639 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Western Alliance Bancorporation by 9.3% during the 4th quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider’s stock worth $8,090,000 after acquiring an additional 8,201 shares during the period. Norden Group LLC purchased a new position in shares of Western Alliance Bancorporation during the 4th quarter worth about $727,000. Finally, Focus Partners Wealth lifted its holdings in shares of Western Alliance Bancorporation by 5.2% during the 4th quarter. Focus Partners Wealth now owns 99,080 shares of the financial services provider’s stock worth $8,277,000 after acquiring an additional 4,909 shares during the period. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Trading Down 0.1%

NYSE WAL opened at $78.31 on Monday. Western Alliance Bancorporation has a one year low of $56.70 and a one year high of $98.10. The company’s 50 day moving average price is $71.85 and its 200 day moving average price is $82.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.63 and a beta of 1.30.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.01. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. The company had revenue of $790.10 million during the quarter, compared to the consensus estimate of $792.25 million. During the same quarter last year, the company earned $1.72 earnings per share. On average, sell-side analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, May 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 20.85%.

Analysts Set New Price Targets

WAL has been the topic of several recent analyst reports. Piper Sandler increased their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Stephens reiterated an “overweight” rating and set a $92.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Royal Bank of Canada cut their price objective on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Barclays cut their price objective on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Truist Financial assumed coverage on shares of Western Alliance Bancorporation in a report on Tuesday, May 13th. They set a “buy” rating and a $92.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Western Alliance Bancorporation has an average rating of “Moderate Buy” and an average target price of $96.38.

About Western Alliance Bancorporation

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.