LHM Inc. Purchases 17,436 Shares of Western Alliance Bancorporation (NYSE:WAL)

LHM Inc. raised its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 21.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,783 shares of the financial services provider’s stock after acquiring an additional 17,436 shares during the period. Western Alliance Bancorporation makes up 2.6% of LHM Inc.’s portfolio, making the stock its 11th biggest holding. LHM Inc.’s holdings in Western Alliance Bancorporation were worth $8,252,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WAL. Smartleaf Asset Management LLC lifted its stake in shares of Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock valued at $27,000 after buying an additional 117 shares during the period. Fifth Third Bancorp lifted its stake in shares of Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after buying an additional 136 shares during the period. Versant Capital Management Inc lifted its stake in shares of Western Alliance Bancorporation by 13.4% in the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock valued at $111,000 after buying an additional 157 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Western Alliance Bancorporation by 1.0% in the fourth quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider’s stock valued at $1,359,000 after buying an additional 163 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in shares of Western Alliance Bancorporation by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,387 shares of the financial services provider’s stock valued at $283,000 after buying an additional 167 shares during the period. 79.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. UBS Group assumed coverage on shares of 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. JPMorgan Chase & Co. dropped their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. DA Davidson dropped their price target on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Stephens reissued an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company dropped their price target on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $98.07.

Western Alliance Bancorporation Price Performance

Shares of WAL stock opened at $81.15 on Thursday. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The stock has a market cap of $8.96 billion, a PE ratio of 11.43, a PEG ratio of 0.63 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The firm’s 50 day moving average price is $86.65 and its two-hundred day moving average price is $86.32.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. As a group, analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.87%. Western Alliance Bancorporation’s payout ratio is presently 21.41%.

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.