Envestnet Asset Management Inc. Buys 9,075 Shares of Western Alliance Bancorporation (NYSE:WAL)

Envestnet Asset Management Inc. lifted its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 20.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,710 shares of the financial services provider's stock after purchasing an additional 9,075 shares during the period. Envestnet Asset Management Inc.'s holdings in Western Alliance Bancorporation were worth $4,403,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC raised its stake in Western Alliance Bancorporation by 2.9% in the 3rd quarter. Barclays PLC now owns 123,412 shares of the financial services provider's stock valued at $10,674,000 after acquiring an additional 3,421 shares during the period. Sanctuary Advisors LLC lifted its position in Western Alliance Bancorporation by 89.5% during the third quarter. Sanctuary Advisors LLC now owns 7,125 shares of the financial services provider's stock worth $667,000 after purchasing an additional 3,365 shares during the period. Franklin Resources Inc. increased its holdings in Western Alliance Bancorporation by 17.0% in the 3rd quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider's stock valued at $27,970,000 after buying an additional 45,764 shares during the period. Oddo BHF Asset Management Sas bought a new position in Western Alliance Bancorporation in the 3rd quarter valued at about $639,000. Finally, Retirement Systems of Alabama bought a new position in Western Alliance Bancorporation in the 3rd quarter valued at about $11,461,000. Institutional investors own 79.15% of the company's stock.

Analysts Set New Price Targets

WAL has been the topic of several recent analyst reports. Barclays decreased their target price on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. DA Davidson cut their target price on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler boosted their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Stephens restated an "overweight" rating and issued a $92.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company decreased their price target on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and a consensus target price of $96.62.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock traded down $0.91 during mid-day trading on Tuesday, hitting $69.49. 41,416 shares of the stock were exchanged, compared to its average volume of 1,212,900. The company has a 50-day simple moving average of $74.09 and a 200 day simple moving average of $83.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. Western Alliance Bancorporation has a 12 month low of $56.70 and a 12 month high of $98.10. The company has a market capitalization of $7.68 billion, a P/E ratio of 9.78, a P/E/G ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.01. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. The business had revenue of $790.10 million during the quarter, compared to analyst estimates of $792.25 million. During the same period in the previous year, the business earned $1.72 EPS. Sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.38 per share. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.19%. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 20.85%.

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.