Kovitz Investment Group Partners LLC Purchases 15,478 Shares of Western Alliance Bancorporation (NYSE:WAL)

Kovitz Investment Group Partners LLC boosted its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 368.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,679 shares of the financial services provider's stock after buying an additional 15,478 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Western Alliance Bancorporation were worth $1,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its stake in Western Alliance Bancorporation by 46.2% in the 3rd quarter. State Street Corp now owns 4,488,345 shares of the financial services provider's stock valued at $388,197,000 after buying an additional 1,418,472 shares in the last quarter. FMR LLC boosted its holdings in shares of Western Alliance Bancorporation by 93.3% in the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider's stock worth $241,568,000 after acquiring an additional 1,347,921 shares during the period. LHM Inc. grew its position in shares of Western Alliance Bancorporation by 2,141.1% in the second quarter. LHM Inc. now owns 757,809 shares of the financial services provider's stock valued at $47,606,000 after purchasing an additional 723,995 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Western Alliance Bancorporation by 20.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider's stock valued at $233,832,000 after purchasing an additional 636,577 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Western Alliance Bancorporation by 6,342.7% during the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider's stock worth $44,522,000 after purchasing an additional 506,778 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Price Performance

WAL traded up $0.69 during midday trading on Wednesday, hitting $90.92. The stock had a trading volume of 654,917 shares, compared to its average volume of 1,267,788. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The business has a fifty day moving average of $88.67 and a 200 day moving average of $78.15. The company has a market cap of $10.01 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 1.47 and a beta of 1.45.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.90 by ($0.10). The business had revenue of $833.10 million during the quarter, compared to analysts' expectations of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. As a group, equities analysts forecast that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.38 per share. This is a boost from Western Alliance Bancorporation's previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Friday, November 15th. Western Alliance Bancorporation's dividend payout ratio (DPR) is 23.46%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Stephens reiterated an "overweight" rating and set a $102.00 price target on shares of Western Alliance Bancorporation in a research report on Friday, October 18th. Wedbush upped their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an "outperform" rating in a report on Tuesday, September 24th. Barclays raised their price target on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Truist Financial decreased their price target on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating on the stock in a report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft raised Western Alliance Bancorporation from a "hold" rating to a "buy" rating and lifted their price objective for the company from $83.00 to $101.00 in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Western Alliance Bancorporation currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.40.

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.