Cerity Partners LLC Invests $403,000 in Western Alliance Bancorporation (NYSE:WAL)

Cerity Partners LLC purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) in the fourth quarter, Holdings Channel.com reports. The fund purchased 6,127 shares of the financial services provider’s stock, valued at approximately $403,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. increased its holdings in Western Alliance Bancorporation by 170.4% during the 3rd quarter. Invesco Ltd. now owns 1,294,476 shares of the financial services provider’s stock valued at $59,507,000 after purchasing an additional 815,737 shares in the last quarter. Dark Forest Capital Management LP boosted its position in Western Alliance Bancorporation by 16.7% in the 3rd quarter. Dark Forest Capital Management LP now owns 11,976 shares of the financial services provider’s stock valued at $551,000 after buying an additional 1,713 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Western Alliance Bancorporation in the 3rd quarter valued at $4,873,000. Barclays PLC boosted its position in Western Alliance Bancorporation by 489.0% in the 3rd quarter. Barclays PLC now owns 1,333,881 shares of the financial services provider’s stock valued at $61,320,000 after buying an additional 1,107,431 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Western Alliance Bancorporation by 23.7% in the 4th quarter. Nordea Investment Management AB now owns 98,083 shares of the financial services provider’s stock valued at $6,525,000 after buying an additional 18,785 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Down 1.3 %

NYSE:WAL opened at $58.58 on Friday. Western Alliance Bancorporation has a 1 year low of $11.35 and a 1 year high of $70.23. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.40. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of 8.54 and a beta of 1.47. The stock has a 50-day moving average price of $59.33 and a two-hundred day moving average price of $56.85.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. Western Alliance Bancorporation had a return on equity of 14.99% and a net margin of 16.50%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $711.34 million. During the same period in the previous year, the firm earned $2.30 earnings per share. As a group, equities analysts expect that Western Alliance Bancorporation will post 7.73 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a $0.37 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.48 dividend on an annualized basis and a yield of 2.53%. Western Alliance Bancorporation’s payout ratio is 21.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WAL shares. JPMorgan Chase & Co. decreased their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Keefe, Bruyette & Woods decreased their price objective on Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday. Royal Bank of Canada decreased their price objective on Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Monday. Truist Financial decreased their price objective on Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Stephens restated an “overweight” rating and issued a $82.00 price target on shares of Western Alliance Bancorporation in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.56.

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.