Western Alliance Bancorporation (NYSE:WAL) Stake Increased by Vestcor Inc

Vestcor Inc boosted its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 108.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,496 shares of the financial services provider's stock after purchasing an additional 9,088 shares during the quarter. Vestcor Inc's holdings in Western Alliance Bancorporation were worth $1,462,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Swiss National Bank increased its stake in Western Alliance Bancorporation by 0.7% in the 4th quarter. Swiss National Bank now owns 205,700 shares of the financial services provider's stock valued at $17,184,000 after buying an additional 1,400 shares during the period. Sequoia Financial Advisors LLC increased its stake in Western Alliance Bancorporation by 2,605.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 78,037 shares of the financial services provider's stock valued at $6,519,000 after buying an additional 75,153 shares during the period. HighTower Advisors LLC increased its stake in Western Alliance Bancorporation by 8.5% in the 4th quarter. HighTower Advisors LLC now owns 16,750 shares of the financial services provider's stock valued at $1,399,000 after buying an additional 1,312 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Western Alliance Bancorporation by 11.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,549 shares of the financial services provider's stock valued at $2,218,000 after buying an additional 2,804 shares during the period. Finally, AlphaQuest LLC acquired a new position in Western Alliance Bancorporation in the 4th quarter valued at $139,000. Hedge funds and other institutional investors own 79.15% of the company's stock.

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Western Alliance Bancorporation Price Performance

NYSE WAL traded up $1.71 during trading hours on Wednesday, reaching $76.77. The company's stock had a trading volume of 998,258 shares, compared to its average volume of 1,213,084. The stock has a market cap of $8.48 billion, a PE ratio of 10.81, a PEG ratio of 0.63 and a beta of 1.43. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. The company's 50-day moving average is $85.26 and its two-hundred day moving average is $86.12. 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 (NYSE:WAL - Get Free Report) last released its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. DA Davidson lowered their price target on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price target on shares of 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. Wells Fargo & Company lowered their price target on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. Finally, Stephens reaffirmed an "overweight" rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and a consensus price target of $98.07.

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.