AssuredPartners Investment Advisors LLC purchased a new position in Western Alliance Bancorporation (NYSE:WAL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,853 shares of the financial services provider's stock, valued at approximately $572,000.
Several other institutional investors and hedge funds have also made changes to their positions in WAL. SBI Securities Co. Ltd. purchased a new position in Western Alliance Bancorporation in the 4th quarter worth $26,000. Smartleaf Asset Management LLC lifted its holdings in shares of Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after purchasing an additional 117 shares during the period. Fifth Third Bancorp boosted its position in 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 last quarter. Allworth Financial LP boosted its position in Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock valued at $37,000 after buying an additional 215 shares during the last quarter. Finally, Atala Financial Inc acquired a new position in Western Alliance Bancorporation in the 4th quarter worth approximately $44,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.
Western Alliance Bancorporation Price Performance
Shares of WAL stock traded down $1.05 on Tuesday, reaching $75.78. 189,728 shares of the company were exchanged, compared to its average volume of 1,164,300. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. 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 has a 50-day moving average price of $84.18 and a 200 day moving average price of $86.00. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 0.63 and a beta of 1.43.
Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. Equities research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.
Western Alliance Bancorporation Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio is currently 21.41%.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. DA Davidson dropped their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. Wells Fargo & Company decreased their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. Piper Sandler raised their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $98.07.
Read Our Latest Report on WAL
Western Alliance Bancorporation Company 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.
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