Janney Montgomery Scott LLC Buys Shares of 3,572 Western Alliance Bancorporation (NYSE:WAL)

Janney Montgomery Scott LLC bought a new stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,572 shares of the financial services provider's stock, valued at approximately $298,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WAL. Versant Capital Management Inc increased its position in shares of 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 worth $111,000 after purchasing an additional 157 shares during the last quarter. Blue Trust Inc. increased 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 purchasing an additional 187 shares during the last quarter. UMB Bank n.a. increased its position in shares of 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 worth $37,000 after purchasing an additional 249 shares during the last quarter. Signaturefd LLC increased its position in shares of Western Alliance Bancorporation by 18.7% during the 3rd quarter. Signaturefd LLC now owns 1,598 shares of the financial services provider's stock worth $138,000 after purchasing an additional 252 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Western Alliance Bancorporation by 25.5% during the 4th quarter. GAMMA Investing LLC now owns 1,423 shares of the financial services provider's stock worth $119,000 after purchasing an additional 289 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Price Performance

Shares of Western Alliance Bancorporation stock traded up $1.29 on Friday, reaching $88.64. 651,891 shares of the stock were exchanged, compared to its average volume of 1,273,617. The firm's 50 day moving average is $86.85 and its 200-day moving average is $85.22. The firm has a market cap of $9.76 billion, a PE ratio of 12.48, a P/E/G ratio of 0.64 and a beta of 1.46. 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 one year low of $53.75 and a one year 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 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%. As a group, analysts anticipate that Western Alliance Bancorporation will post 8.99 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio is presently 21.41%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Truist Financial decreased their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating on the stock in a report on Monday, October 21st. Wells Fargo & Company decreased their target price on Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating on the stock in a report on Monday, January 6th. Stephens reissued an "overweight" rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Saturday, February 8th. Finally, UBS Group initiated coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a "buy" rating and a $115.00 price target for the company. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $98.07.

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.