Diversify Wealth Management LLC Invests $471,000 in Western Alliance Bancorporation (NYSE:WAL)

Diversify Wealth Management LLC bought a new position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 6,006 shares of the financial services provider's stock, valued at approximately $471,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC lifted its position in Western Alliance Bancorporation by 19.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,575 shares of the financial services provider's stock worth $476,000 after acquiring an additional 1,224 shares during the period. Bank of Montreal Can increased its holdings in Western Alliance Bancorporation by 41.4% in the 2nd quarter. Bank of Montreal Can now owns 596,262 shares of the financial services provider's stock worth $37,475,000 after buying an additional 174,682 shares during the period. Marshall Wace LLP raised its position in Western Alliance Bancorporation by 13.8% during the 2nd quarter. Marshall Wace LLP now owns 961,412 shares of the financial services provider's stock worth $60,396,000 after buying an additional 116,322 shares during the last quarter. AQR Capital Management LLC lifted its stake in Western Alliance Bancorporation by 119.5% during the 2nd quarter. AQR Capital Management LLC now owns 252,690 shares of the financial services provider's stock valued at $15,596,000 after acquiring an additional 137,577 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Western Alliance Bancorporation by 0.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 523,425 shares of the financial services provider's stock valued at $32,882,000 after acquiring an additional 4,801 shares during the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank of Canada set a $99.00 price objective on Western Alliance Bancorporation and gave the company an "outperform" rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a "hold" rating to a "buy" rating and lifted their target price for the company from $83.00 to $101.00 in a report on Monday, October 7th. Stephens reissued an "overweight" rating and set a $102.00 price target on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Wells Fargo & Company dropped their price target on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. Finally, Piper Sandler decreased their price objective on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an "overweight" rating on the stock in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and a consensus target price of $94.31.

Western Alliance Bancorporation Trading Down 1.1 %

NYSE WAL traded down $0.99 on Thursday, reaching $91.40. The stock had a trading volume of 1,592,447 shares, compared to its average volume of 1,223,868. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10. The stock has a fifty day moving average price of $88.01 and a two-hundred day moving average price of $83.36. The firm has a market capitalization of $10.06 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 0.88 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 Increases Dividend

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

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.