Cerity Partners LLC Has $268,000 Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Cerity Partners LLC reduced its stake in Western Alliance Bancorporation (NYSE:WAL) by 41.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,147 shares of the financial services provider’s stock after selling 2,202 shares during the quarter. Cerity Partners LLC’s holdings in Western Alliance Bancorporation were worth $268,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of WAL. SBI Securities Co. Ltd. acquired a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC grew its holdings 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 worth $27,000 after acquiring an additional 117 shares during the period. Fifth Third Bancorp lifted its stake in 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 buying an additional 136 shares during the period. Allworth Financial LP increased its stake 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 valued at $37,000 after purchasing an additional 215 shares in the last quarter. Finally, Atala Financial Inc acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth $44,000. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Up 2.9 %

NYSE WAL opened at $70.72 on Friday. The firm has a market capitalization of $7.81 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. The business’s 50-day moving average price is $74.98 and its two-hundred day moving average price is $83.43. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 12 month low of $56.70 and a 12 month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, beating the consensus estimate of $1.78 by $0.01. The company had revenue of $790.10 million for the quarter, compared to analyst estimates of $792.25 million. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. During the same quarter in the prior year, the company earned $1.72 EPS. On average, analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio is currently 21.41%.

Analyst Ratings Changes

A number of brokerages recently commented on WAL. Piper Sandler raised their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. cut their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Wells Fargo & Company reduced their price objective on Western Alliance Bancorporation from $95.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Stephens restated an “overweight” rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday. Finally, StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $96.62.

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.