Alliance Wealth Advisors LLC UT Purchases New Shares in Western Alliance Bancorporation (NYSE:WAL)

Alliance Wealth Advisors LLC UT acquired a new position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 7,892 shares of the financial services provider's stock, valued at approximately $659,000.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its position in Western Alliance Bancorporation by 46.2% in the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider's stock valued at $388,197,000 after acquiring an additional 1,418,472 shares during the last quarter. FMR LLC lifted its position in Western Alliance Bancorporation by 93.3% in the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider's stock valued at $241,568,000 after acquiring an additional 1,347,921 shares during the last quarter. Janus Henderson Group PLC lifted its position in Western Alliance Bancorporation by 4.1% in the third quarter. Janus Henderson Group PLC now owns 1,896,377 shares of the financial services provider's stock valued at $164,019,000 after acquiring an additional 74,956 shares during the last quarter. Geode Capital Management LLC lifted its position in Western Alliance Bancorporation by 6.9% in the third quarter. Geode Capital Management LLC now owns 1,880,681 shares of the financial services provider's stock valued at $162,701,000 after acquiring an additional 120,729 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its position in Western Alliance Bancorporation by 10.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,802,505 shares of the financial services provider's stock valued at $155,899,000 after acquiring an additional 169,244 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WAL has been the subject of a number of research reports. JPMorgan Chase & Co. reduced 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. Piper Sandler upped their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Stephens reaffirmed an "overweight" rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. StockNews.com raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Saturday. Finally, DA Davidson reduced their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $98.07.

Western Alliance Bancorporation Price Performance

WAL traded down $0.74 on Friday, hitting $89.87. 750,813 shares of the company were exchanged, compared to its average volume of 1,273,617. 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 business's fifty day moving average is $87.36 and its 200 day moving average is $84.92. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. The firm has a market capitalization of $9.89 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that Western Alliance Bancorporation will post 8.99 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 21.41%.

About Western Alliance Bancorporation

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.