Vanguard Group Inc. Increases Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Vanguard Group Inc. raised its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 0.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,719,048 shares of the financial services provider’s stock after purchasing an additional 4,324 shares during the period. Vanguard Group Inc. owned 9.74% of Western Alliance Bancorporation worth $895,469,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in WAL. SBI Securities Co. Ltd. bought a new position in Western Alliance Bancorporation during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted 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 valued at $27,000 after acquiring an additional 117 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 136 shares in the last quarter. Allworth Financial LP increased 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 worth $37,000 after purchasing an additional 215 shares during the last quarter. Finally, Atala Financial Inc purchased a new stake in Western Alliance Bancorporation during the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Down 2.3 %

NYSE WAL opened at $76.08 on Friday. The stock has a market cap of $8.40 billion, a PE ratio of 10.72, a PEG 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’s 50-day moving average price is $84.44 and its 200-day moving average price is $85.92. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results 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%. Equities research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.41%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced 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. Piper Sandler boosted their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. StockNews.com raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. DA Davidson dropped their target price on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, UBS Group began coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price target on the stock. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Western Alliance Bancorporation has an average rating of “Moderate Buy” and an average price target of $98.07.

About Western Alliance Bancorporation

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.