47,526 Shares in Western Alliance Bancorporation (NYSE:WAL) Purchased by Madison Investment Advisors LLC

Madison Investment Advisors LLC acquired a new stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 47,526 shares of the financial services provider's stock, valued at approximately $3,970,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC grew its holdings in Western Alliance Bancorporation by 56.0% during the 4th 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 raised its stake in shares of Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 136 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of 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 purchasing an additional 215 shares during the period. Finally, Principal Securities Inc. grew its stake in shares of Western Alliance Bancorporation by 338.1% in the fourth quarter. Principal Securities Inc. now owns 679 shares of the financial services provider's stock worth $57,000 after purchasing an additional 524 shares during the last quarter. Institutional investors own 79.15% of the company's stock.

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Analyst Ratings Changes

Several research analysts recently issued reports on the company. Piper Sandler raised their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Wells Fargo & Company decreased their price target on Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. cut their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. UBS Group began coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a "buy" rating and a $115.00 target price for the company. Finally, StockNews.com upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Western Alliance Bancorporation presently has an average rating of "Moderate Buy" and an average target price of $98.07.

Western Alliance Bancorporation Stock Down 0.8 %

WAL traded down $0.63 during midday trading on Wednesday, hitting $79.93. The company had a trading volume of 587,264 shares, compared to its average volume of 1,151,596. The stock's 50 day moving average price is $85.04 and its 200 day moving average price is $86.06. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 0.63 and a beta of 1.43. 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 (NYSE:WAL - Get Free Report) last issued its earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating analysts' consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. On average, research analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio is currently 21.41%.

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.