Versant Capital Management Inc Has $111,000 Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Versant Capital Management Inc raised its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 13.4% during the 4th quarter, HoldingsChannel reports. The fund owned 1,325 shares of the financial services provider’s stock after purchasing an additional 157 shares during the period. Versant Capital Management Inc’s holdings in Western Alliance Bancorporation were worth $111,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Retirement Systems of Alabama purchased a new position in Western Alliance Bancorporation during the third quarter valued at approximately $11,461,000. Franklin Resources Inc. lifted its stake in Western Alliance Bancorporation by 17.0% in the third quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider’s stock valued at $27,970,000 after acquiring an additional 45,764 shares during the last quarter. Mutual of America Capital Management LLC acquired a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth $5,099,000. BNP Paribas Financial Markets raised its holdings in shares of Western Alliance Bancorporation by 1,091.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider’s stock valued at $2,947,000 after purchasing an additional 31,214 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Western Alliance Bancorporation by 41.4% in the 2nd quarter. Bank of Montreal Can now owns 596,262 shares of the financial services provider’s stock valued at $37,475,000 after purchasing an additional 174,682 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Up 1.8 %

Shares of WAL stock opened at $84.40 on Friday. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The stock has a fifty day moving average price of $88.71 and a 200 day moving average price of $81.07. The stock has a market cap of $9.29 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The business had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. Analysts predict that Western Alliance Bancorporation will post 7.14 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.80%. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, November 15th. Western Alliance Bancorporation’s payout ratio is presently 23.46%.

Analyst Upgrades and Downgrades

WAL has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on Western Alliance Bancorporation from $92.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their price target for the company from $83.00 to $101.00 in a report on Monday, October 7th. Royal Bank of Canada set a $99.00 price objective on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research note on Friday, October 18th. Truist Financial lowered their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Finally, Piper Sandler cut their target price on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Western Alliance Bancorporation has an average rating of “Moderate Buy” and a consensus price target of $94.75.

Western Alliance Bancorporation Company 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.