Moloney Securities Asset Management LLC Purchases Shares of 2,717 Western Alliance Bancorporation $WAL

Moloney Securities Asset Management LLC bought a new stake in Western Alliance Bancorporation (NYSE:WAL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,717 shares of the financial services provider’s stock, valued at approximately $212,000.

Several other hedge funds have also recently added to or reduced their stakes in WAL. Nuveen LLC acquired a new position in Western Alliance Bancorporation in the first quarter valued at about $45,486,000. FJ Capital Management LLC lifted its stake in Western Alliance Bancorporation by 824.8% in the first quarter. FJ Capital Management LLC now owns 442,507 shares of the financial services provider’s stock valued at $33,998,000 after buying an additional 394,660 shares during the period. Invesco Ltd. lifted its stake in Western Alliance Bancorporation by 5.9% in the first quarter. Invesco Ltd. now owns 6,076,021 shares of the financial services provider’s stock valued at $466,821,000 after buying an additional 339,758 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in Western Alliance Bancorporation in the second quarter valued at about $20,390,000. Finally, Voya Investment Management LLC lifted its stake in Western Alliance Bancorporation by 23.4% in the first quarter. Voya Investment Management LLC now owns 676,575 shares of the financial services provider’s stock valued at $51,981,000 after buying an additional 128,362 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Up 2.7%

NYSE:WAL opened at $79.21 on Monday. 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 company has a market cap of $8.74 billion, a PE ratio of 9.79, a PEG ratio of 0.55 and a beta of 1.35. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $98.10. The stock has a 50-day simple moving average of $85.14 and a 200 day simple moving average of $79.02.

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

Western Alliance Bancorporation Announces Dividend

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

Wall Street Analyst Weigh In

WAL has been the topic of several analyst reports. Keefe, Bruyette & Woods cut their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Thursday. DA Davidson raised their price target on Western Alliance Bancorporation from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Piper Sandler raised their price target on Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. raised their price target on Western Alliance Bancorporation from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Finally, Royal Bank Of Canada raised their price target on Western Alliance Bancorporation from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.20.

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.