LPL Financial LLC Buys 10,245 Shares of Western Alliance Bancorporation (NYSE:WAL)

LPL Financial LLC increased its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 7.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 146,303 shares of the financial services provider's stock after acquiring an additional 10,245 shares during the period. LPL Financial LLC owned about 0.13% of Western Alliance Bancorporation worth $12,222,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WAL. SBI Securities Co. Ltd. purchased a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its stake 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 valued at $27,000 after buying an additional 117 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Western Alliance Bancorporation by 70.1% during 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 during the period. Allworth Financial LP boosted its stake in shares of Western Alliance Bancorporation by 115.6% in the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock worth $37,000 after buying an additional 215 shares during the last quarter. Finally, Atala Financial Inc bought a new stake in shares of Western Alliance Bancorporation in the fourth quarter worth $44,000. 79.15% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

WAL has been the topic of a number of recent research reports. UBS Group initiated coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a "buy" rating and a $115.00 target price on the stock. Wells Fargo & Company dropped their price objective on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. decreased 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 report on Tuesday, January 7th. DA Davidson reduced their price objective on Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Finally, Piper Sandler lifted their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $98.07.

Western Alliance Bancorporation Price Performance

NYSE WAL traded down $3.32 on Friday, reaching $61.95. The company had a trading volume of 3,244,034 shares, compared to its average volume of 1,190,226. The stock has a market capitalization of $6.84 billion, a PE ratio of 8.73, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The firm's 50 day moving average price is $83.04 and its 200 day moving average price is $85.76.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its 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 return on equity of 13.14% and a net margin of 15.49%. As a group, equities analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.45%. 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.