Sequoia Financial Advisors LLC Increases Holdings in Western Alliance Bancorporation (NYSE:WAL)

Sequoia Financial Advisors LLC boosted its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 2,605.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 78,037 shares of the financial services provider's stock after buying an additional 75,153 shares during the period. Sequoia Financial Advisors LLC owned approximately 0.07% of Western Alliance Bancorporation worth $6,519,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of WAL. SBI Securities Co. Ltd. bought a new position in Western Alliance Bancorporation in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC grew its position in Western Alliance Bancorporation by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 117 shares during the last quarter. Fifth Third Bancorp grew its position in Western Alliance Bancorporation by 70.1% in the 4th 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 grew its position in Western Alliance Bancorporation by 115.6% in the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 215 shares during the last quarter. Finally, Covestor Ltd grew its position in Western Alliance Bancorporation by 167.5% in the 3rd quarter. Covestor Ltd now owns 634 shares of the financial services provider's stock valued at $55,000 after acquiring an additional 397 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts have commented on WAL shares. StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. Wells Fargo & Company cut their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating on the stock in a research report 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 report on Tuesday, January 7th. DA Davidson dropped their price target on Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Finally, Stephens reissued an "overweight" rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation presently has a consensus rating of "Moderate Buy" and an average target price of $98.07.

Western Alliance Bancorporation Stock Down 1.5 %

Western Alliance Bancorporation stock traded down $1.17 during midday trading on Thursday, reaching $74.63. The company's stock had a trading volume of 793,794 shares, compared to its average volume of 1,221,487. The stock's 50-day simple moving average is $85.67 and its 200-day simple moving average is $86.13. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The stock has a market capitalization of $8.24 billion, a P/E ratio of 10.51, a PEG ratio of 0.63 and a beta of 1.43.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly 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, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's payout ratio is 21.41%.

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.