Jackson Square Capital LLC Boosts Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Jackson Square Capital LLC raised its holdings in Western Alliance Bancorporation (NYSE:WAL) by 64.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,114 shares of the financial services provider’s stock after purchasing an additional 12,972 shares during the quarter. Jackson Square Capital LLC’s holdings in Western Alliance Bancorporation were worth $2,766,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC boosted its position in shares of Western Alliance Bancorporation by 19.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,575 shares of the financial services provider’s stock worth $476,000 after purchasing an additional 1,224 shares in the last quarter. XTX Topco Ltd boosted its holdings in Western Alliance Bancorporation by 170.5% during the second quarter. XTX Topco Ltd now owns 18,162 shares of the financial services provider’s stock worth $1,141,000 after buying an additional 11,448 shares in the last quarter. Bank of Montreal Can grew its position in Western Alliance Bancorporation by 41.4% during the second quarter. Bank of Montreal Can now owns 596,262 shares of the financial services provider’s stock worth $37,475,000 after buying an additional 174,682 shares during the period. Stanley Capital Management LLC purchased a new position in Western Alliance Bancorporation in the second quarter valued at about $9,737,000. Finally, Marshall Wace LLP lifted its position in shares of Western Alliance Bancorporation by 13.8% during the 2nd quarter. Marshall Wace LLP now owns 961,412 shares of the financial services provider’s stock valued at $60,396,000 after acquiring an additional 116,322 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WAL shares. Wells Fargo & Company lowered their price target on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. UBS Group initiated coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price target for the company. Stephens reiterated an “overweight” rating and issued a $102.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday, October 18th. JPMorgan Chase & Co. dropped their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Barclays upped their price target on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and an average target price of $94.31.

Western Alliance Bancorporation Trading Up 2.9 %

Shares of WAL stock opened at $89.61 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. The firm’s 50 day moving average price is $88.11 and its two-hundred day moving average price is $82.77. The stock has a market cap of $9.86 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 0.75 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 the consensus estimate of $1.90 by ($0.10). The company had revenue of $833.10 million during the quarter, compared to analysts’ expectations of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. On average, analysts anticipate that Western Alliance Bancorporation will post 7.11 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.38 per share. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 23.46%.

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.