Aigen Investment Management LP Takes $497,000 Position in Western Alliance Bancorporation (NYSE:WAL)

Aigen Investment Management LP purchased a new position in Western Alliance Bancorporation (NYSE:WAL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,553 shares of the financial services provider’s stock, valued at approximately $497,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its holdings in shares of Western Alliance Bancorporation by 422.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock worth $43,000 after buying an additional 760 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in Western Alliance Bancorporation during the fourth quarter valued at about $65,000. Fortitude Family Office LLC bought a new stake in Western Alliance Bancorporation during the fourth quarter worth about $93,000. Systematic Alpha Investments LLC purchased a new position in shares of Western Alliance Bancorporation in the 3rd quarter worth about $166,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Western Alliance Bancorporation during the 3rd quarter valued at about $177,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Insider Activity

In other Western Alliance Bancorporation news, CAO J. Kelly Jr. Ardrey sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $64.20, for a total transaction of $64,200.00. Following the completion of the transaction, the chief accounting officer now owns 5,636 shares of the company’s stock, valued at $361,831.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Trading Up 0.3 %

Shares of WAL opened at $62.66 on Friday. Western Alliance Bancorporation has a 1-year low of $33.19 and a 1-year high of $70.23. The company has a current ratio of 0.90, a quick ratio of 0.87 and a debt-to-equity ratio of 1.21. The firm’s 50-day moving average price is $60.76 and its 200-day moving average price is $59.41. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 1.21 and a beta of 1.47.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.03. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $711.34 million. Western Alliance Bancorporation had a return on equity of 14.77% and a net margin of 16.50%. During the same period in the previous year, the firm posted $2.30 EPS. Sell-side analysts anticipate that Western Alliance Bancorporation will post 7.44 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Thursday, May 16th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Wednesday, May 15th. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on WAL shares. Hovde Group initiated coverage on Western Alliance Bancorporation in a research report on Monday, April 22nd. They issued an “outperform” rating and a $75.00 target price for the company. Stephens reaffirmed an “overweight” rating and issued a $82.00 price objective on shares of Western Alliance Bancorporation in a research note on Friday, April 19th. Keefe, Bruyette & Woods decreased their target price on shares of Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. DA Davidson cut their price target on shares of Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, Royal Bank of Canada decreased their price objective on Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and a consensus target price of $72.47.

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.