Congress Wealth Management LLC DE Buys 4,439 Shares of Western Alliance Bancorporation (NYSE:WAL)

Congress Wealth Management LLC DE increased its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 17.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,437 shares of the financial services provider's stock after acquiring an additional 4,439 shares during the period. Congress Wealth Management LLC DE's holdings in Western Alliance Bancorporation were worth $2,543,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in Western Alliance Bancorporation during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC lifted its position in shares of 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 buying an additional 117 shares during the period. Fifth Third Bancorp boosted its stake 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 buying an additional 136 shares in the last quarter. Allworth Financial LP grew its position in Western Alliance Bancorporation by 115.6% in the fourth 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 period. Finally, Atala Financial Inc acquired a new position in Western Alliance Bancorporation during the fourth quarter worth $44,000. Institutional investors own 79.15% of the company's stock.

Remove Ads

Western Alliance Bancorporation Stock Up 1.0 %

Shares of NYSE:WAL traded up $0.77 during mid-day trading on Monday, reaching $76.89. 856,460 shares of the stock were exchanged, compared to its average volume of 1,168,103. The company has a market cap of $8.49 billion, a P/E ratio of 10.83, a P/E/G ratio of 0.63 and a beta of 1.43. The stock's 50 day simple moving average is $84.18 and its 200-day simple moving average is $86.00. 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 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 posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. As a group, equities research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's payout ratio is presently 21.41%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WAL shares. JPMorgan Chase & Co. lowered their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Stephens reaffirmed an "overweight" rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. DA Davidson reduced their target price on Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company decreased their price target 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. Finally, UBS Group began coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a "buy" rating and a $115.00 price objective for the company. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $98.07.

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.