Cerity Partners LLC Takes Position in Western Alliance Bancorporation (NYSE:WAL)

Cerity Partners LLC acquired a new stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,349 shares of the financial services provider's stock, valued at approximately $463,000.

A number of other institutional investors also recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in shares of Western Alliance Bancorporation in the 3rd quarter worth $31,000. ORG Wealth Partners LLC purchased a new position in Western Alliance Bancorporation during the third quarter worth about $33,000. ORG Partners LLC bought a new stake in Western Alliance Bancorporation in the 2nd quarter worth about $36,000. UMB Bank n.a. increased its stake in Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider's stock valued at $37,000 after buying an additional 249 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Western Alliance Bancorporation by 58.4% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock worth $44,000 after buying an additional 187 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Performance

Shares of NYSE:WAL traded down $2.08 during midday trading on Monday, reaching $91.66. 596,843 shares of the company traded hands, compared to its average volume of 1,272,309. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The firm's fifty day moving average price is $88.54 and its two-hundred day moving average price is $77.96. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.47 and a beta of 1.45.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.90 by ($0.10). The firm had revenue of $833.10 million during the quarter, compared to analysts' expectations of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. On average, equities analysts expect that Western Alliance Bancorporation will post 7.14 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.38 per share. This is a positive change from Western Alliance Bancorporation's previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, November 15th. Western Alliance Bancorporation's payout ratio is 23.46%.

Analysts Set New Price Targets

WAL has been the subject of a number of research analyst reports. Piper Sandler decreased their price target on Western Alliance Bancorporation from $102.00 to $101.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. JPMorgan Chase & Co. decreased their target price on Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a "hold" rating to a "buy" rating and boosted their price target for the stock from $83.00 to $101.00 in a report on Monday, October 7th. Barclays lifted their price objective on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada set a $99.00 target price on shares of Western Alliance Bancorporation and gave the company an "outperform" rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $93.40.

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.