Riverwater Partners LLC Acquires 575 Shares of Western Alliance Bancorporation (NYSE:WAL)

Riverwater Partners LLC increased its holdings in Western Alliance Bancorporation (NYSE:WAL) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,904 shares of the financial services provider’s stock after acquiring an additional 575 shares during the quarter. Western Alliance Bancorporation comprises about 0.9% of Riverwater Partners LLC’s investment portfolio, making the stock its 27th biggest holding. Riverwater Partners LLC’s holdings in Western Alliance Bancorporation were worth $1,913,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of WAL. SBI Securities Co. Ltd. purchased a new stake in Western Alliance Bancorporation in the fourth quarter worth about $26,000. Smartleaf Asset Management LLC increased its position 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 in the last quarter. Fifth Third Bancorp raised its stake in Western Alliance Bancorporation by 70.1% during the fourth 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 last quarter. Allworth Financial LP boosted its holdings 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 acquiring an additional 215 shares in the last quarter. Finally, Atala Financial Inc purchased a new stake in shares of Western Alliance Bancorporation in the fourth quarter worth $44,000. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL opened at $61.95 on Friday. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10. The firm has a market capitalization of $6.84 billion, a price-to-earnings ratio of 8.73, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $82.44 and a 200 day moving average of $85.62.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 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%. On average, research analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.38 per share. The ex-dividend date 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 (DPR) is presently 21.41%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Stephens reiterated an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. DA Davidson reduced their price target on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Piper Sandler upped their price objective 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. JPMorgan Chase & Co. reduced their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, StockNews.com raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.