By otakuyassine3@gmail.com 
Allworth Financial LP lifted its holdings in shares of Western Alliance Bancorporation (NYSE:WAL – Free Report) by 115.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 401 shares of the financial services provider’s stock after purchasing an additional 215 shares during the quarter. Allworth Financial LP’s holdings in Western Alliance Bancorporation were worth $37,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. State Street Corp increased its stake in shares of Western Alliance Bancorporation by 46.2% during the 3rd quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock worth $388,197,000 after purchasing an additional 1,418,472 shares during the last quarter. FMR LLC boosted its holdings in shares of Western Alliance Bancorporation by 93.3% during the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock worth $241,568,000 after buying an additional 1,347,921 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Western Alliance Bancorporation by 4.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,896,377 shares of the financial services provider’s stock worth $164,019,000 after buying an additional 74,956 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Western Alliance Bancorporation by 4.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider’s stock worth $157,369,000 after buying an additional 81,238 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Western Alliance Bancorporation by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,880,681 shares of the financial services provider’s stock worth $162,701,000 after buying an additional 120,729 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. UBS Group assumed coverage on shares of Western Alliance Bancorporation in a report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price objective for the company. DA Davidson decreased their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Stephens reaffirmed an “overweight” rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Piper Sandler increased their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.07.
Check Out Our Latest Research Report on WAL
Western Alliance Bancorporation Price Performance
NYSE:WAL opened at $85.35 on Wednesday. The company has a 50-day moving average of $86.64 and a 200-day moving average of $86.03. The company has a market capitalization of $9.39 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 0.63 and a beta of 1.46. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. 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 quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping 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%. As a group, equities 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Friday, February 14th. Western Alliance Bancorporation’s payout ratio is 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.
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