Choreo LLC Buys 3,265 Shares of Western Alliance Bancorporation (NYSE:WAL)

Choreo LLC lifted its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 32.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 13,426 shares of the financial services provider's stock after acquiring an additional 3,265 shares during the quarter. Choreo LLC's holdings in Western Alliance Bancorporation were worth $1,122,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp raised its holdings in Western Alliance Bancorporation by 70.1% during the 4th 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. Versant Capital Management Inc raised its holdings in Western Alliance Bancorporation by 13.4% during the 4th 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 last quarter. Pacer Advisors Inc. raised its holdings in Western Alliance Bancorporation by 1.0% during the 4th 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 last quarter. Blue Trust Inc. raised its holdings in Western Alliance Bancorporation by 58.4% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock valued at $44,000 after buying an additional 187 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in Western Alliance Bancorporation by 136.8% during 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. 79.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WAL has been the subject of a number of recent analyst reports. Truist Financial lowered their price target on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating for the company in a report on Monday, October 21st. Stephens reiterated an "overweight" rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. DA Davidson reduced 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 research report on Wednesday, January 29th. UBS Group initiated coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a "buy" rating and a $115.00 price objective on the stock. Finally, Piper Sandler boosted their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $98.07.

Western Alliance Bancorporation Stock Down 3.9 %

Shares of NYSE:WAL traded down $3.53 during midday trading on Wednesday, reaching $86.06. The company's stock had a trading volume of 944,681 shares, compared to its average volume of 1,203,621. The firm has a 50 day moving average of $87.18 and a 200-day moving average of $85.14. The firm has a market capitalization of $9.47 billion, a P/E ratio of 12.12, a PEG ratio of 0.64 and a beta of 1.46. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10.

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

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio (DPR) is 21.41%.

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.