Meridian Wealth Management LLC Takes $222,000 Position in Western Alliance Bancorporation (NYSE:WAL)

Meridian Wealth Management LLC bought a new position in Western Alliance Bancorporation (NYSE:WAL – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,379 shares of the financial services provider’s stock, valued at approximately $222,000. Several other large investors have also added to or reduced their stakes in the business. Parkside Financial Bank & Trust raised its stake in shares of Western Alliance Bancorporation by 422.2% in the third quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 760 shares during the last quarter. Rakuten Securities Inc. bought a new position in Western Alliance Bancorporation during the 4th quarter valued at $65,000. Fortitude Family Office LLC purchased a new position in Western Alliance Bancorporation during the 4th quarter worth $93,000. Systematic Alpha Investments LLC bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth $166,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Western Alliance Bancorporation in the third quarter valued at about $177,000. Institutional investors own 79.15% of the company’s stock. Western Alliance Bancorporation Trading Up 0.8 % Shares of WAL stock opened at $64.96 on Monday. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of 9.47 and a beta of 1.47. The company’s fifty day simple moving average is $60.31 and its two-hundred day simple moving average is $59.11. Western Alliance Bancorporation has a 1 year low of $32.70 and a 1 year high of $70.23. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.87. Western Alliance Bancorporation (NYSE:WAL – Get Free Report) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the firm posted $2.30 EPS. As a group, analysts anticipate that Western Alliance Bancorporation will post 7.44 earnings per share for the current year. Western Alliance Bancorporation Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Thursday, May 16th will be paid a dividend of $0.37 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.48 annualized dividend and a yield of 2.28%. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%. Analysts Set New Price Targets WAL has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. Stephens reaffirmed an “overweight” rating and issued a $82.00 target price on shares of Western Alliance Bancorporation in a report on Friday, April 19th. DA Davidson dropped their price target on Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Hovde Group started coverage on Western Alliance Bancorporation in a research note on Monday, April 22nd. They issued an “outperform” rating and a $75.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their target price on Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $72.47. View Our Latest Research Report on Western Alliance Bancorporation Western Alliance Bancorporation Profile (Free Report) 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.

May 20, 2024 | www.defenseworld.net