Raymond James Financial Services Advisors Inc. Has $517,000 Position in Western Alliance Bancorporation (NYSE:WAL)

Raymond James Financial Services Advisors Inc. cut its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 11.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,854 shares of the financial services provider’s stock after selling 1,026 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Western Alliance Bancorporation were worth $517,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Legato Capital Management LLC grew its holdings in shares of Western Alliance Bancorporation by 50.2% during the fourth quarter. Legato Capital Management LLC now owns 12,331 shares of the financial services provider’s stock worth $811,000 after buying an additional 4,119 shares in the last quarter. Burns Matteson Capital Management LLC bought a new position in shares of Western Alliance Bancorporation during the fourth quarter worth about $903,000. Fortitude Family Office LLC bought a new position in Western Alliance Bancorporation in the fourth quarter valued at approximately $93,000. Handelsinvest Investeringsforvaltning bought a new position in Western Alliance Bancorporation in the fourth quarter valued at approximately $932,000. Finally, Nordea Investment Management AB grew its stake in Western Alliance Bancorporation by 23.7% in the fourth quarter. Nordea Investment Management AB now owns 98,083 shares of the financial services provider’s stock valued at $6,525,000 after purchasing an additional 18,785 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wells Fargo & Company decreased their price target on Western Alliance Bancorporation from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 10th. DA Davidson restated a “buy” rating and issued a $85.00 price target on shares of Western Alliance Bancorporation in a research note on Thursday, March 21st. Royal Bank of Canada restated an “outperform” rating and issued a $78.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, April 9th. Truist Financial restated a “buy” rating and issued a $80.00 price target on shares of Western Alliance Bancorporation in a research note on Monday, April 1st. Finally, StockNews.com downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and an average target price of $71.36.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL opened at $57.42 on Friday. The stock has a market capitalization of $6.33 billion, a PE ratio of 8.78 and a beta of 1.47. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93. The business has a fifty day moving average price of $59.50 and a two-hundred day moving average price of $56.41. Western Alliance Bancorporation has a fifty-two week low of $11.35 and a fifty-two week high of $70.23.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.03. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $711.34 million. Western Alliance Bancorporation had a return on equity of 16.33% and a net margin of 16.74%. During the same period in the previous year, the firm earned $2.30 EPS. As a group, equities analysts predict that Western Alliance Bancorporation will post 7.88 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were issued a $0.37 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.48 annualized dividend and a yield of 2.58%. Western Alliance Bancorporation’s dividend payout ratio is presently 22.63%.

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.