JPMorgan Chase & Co. Has $21.30 Million Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

JPMorgan Chase & Co. raised its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 33.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 254,902 shares of the financial services provider's stock after buying an additional 63,714 shares during the quarter. JPMorgan Chase & Co. owned about 0.23% of Western Alliance Bancorporation worth $21,295,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in WAL. SBI Securities Co. Ltd. purchased a new stake in Western Alliance Bancorporation during the fourth quarter worth $26,000. Smartleaf Asset Management LLC boosted its position in shares of Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after acquiring an additional 117 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of 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 period. Allworth Financial LP increased its stake in Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock worth $37,000 after acquiring an additional 215 shares during the last quarter. Finally, Atala Financial Inc purchased a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at $44,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Down 1.8 %

Shares of Western Alliance Bancorporation stock traded down $1.21 during trading on Wednesday, hitting $64.86. 72,148 shares of the stock traded hands, compared to its average volume of 1,212,250. The stock has a market cap of $7.16 billion, a P/E ratio of 9.12, a PEG ratio of 0.63 and a beta of 1.29. The company has a fifty day moving average price of $77.98 and a two-hundred day moving average price of $84.27. 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 twelve month low of $53.75 and a twelve month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) 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%. Equities research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 21.41%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WAL. Wells Fargo & Company decreased their target price 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. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Piper Sandler boosted their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Barclays reduced their price target on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Stephens reissued an "overweight" rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $96.40.

Western Alliance Bancorporation 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.