Yorktown Management & Research Co Inc Makes New Investment in Western Alliance Bancorporation $WAL

Yorktown Management & Research Co Inc purchased a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,700 shares of the financial services provider’s stock, valued at approximately $289,000.

Other hedge funds also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Western Alliance Bancorporation during the first quarter worth approximately $58,000. National Bank of Canada FI lifted its position in shares of Western Alliance Bancorporation by 22.7% in the first quarter. National Bank of Canada FI now owns 763 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 141 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Western Alliance Bancorporation by 1,614.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,269 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 1,195 shares in the last quarter. Signaturefd LLC lifted its position in shares of Western Alliance Bancorporation by 14.8% in the second quarter. Signaturefd LLC now owns 1,654 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 213 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Western Alliance Bancorporation by 144.5% in the first quarter. Larson Financial Group LLC now owns 1,714 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 1,013 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

NYSE:WAL opened at $78.67 on Wednesday. Western Alliance Bancorporation has a one year low of $57.05 and a one year high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 0.83. The stock has a market cap of $8.68 billion, a PE ratio of 9.72, a P/E/G ratio of 0.55 and a beta of 1.35. The stock has a 50 day moving average price of $85.01 and a 200 day moving average price of $79.21.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $1.91 EPS for the quarter. Western Alliance Bancorporation had a return on equity of 12.93% and a net margin of 17.14%.The firm had revenue of $718.00 million during the quarter. Equities research analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.52 annualized dividend and a yield of 1.9%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 18.79%.

Wall Street Analyst Weigh In

WAL has been the topic of several research reports. Keefe, Bruyette & Woods decreased their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. National Bankshares set a $118.00 target price on Western Alliance Bancorporation in a research report on Wednesday, September 24th. Industrial Alliance Securities set a $95.00 target price on Western Alliance Bancorporation in a research report on Thursday, October 23rd. Weiss Ratings downgraded Western Alliance Bancorporation from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Finally, Cowen initiated coverage on Western Alliance Bancorporation in a research report on Wednesday, September 24th. They issued a “buy” rating on the stock. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and an average price target of $101.20.

Western Alliance Bancorporation Profile

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.