Captrust Financial Advisors Has $565,000 Position in Western Alliance Bancorporation (NYSE:WAL)

Captrust Financial Advisors lessened its position in Western Alliance Bancorporation (NYSE:WAL) by 10.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,763 shares of the financial services provider’s stock after selling 749 shares during the period. Captrust Financial Advisors’ holdings in Western Alliance Bancorporation were worth $565,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of WAL. Barclays PLC increased its position in Western Alliance Bancorporation by 2.9% during the third quarter. Barclays PLC now owns 123,412 shares of the financial services provider’s stock worth $10,674,000 after buying an additional 3,421 shares during the last quarter. Jackson Square Capital LLC boosted its stake in shares of Western Alliance Bancorporation by 64.4% during the 4th quarter. Jackson Square Capital LLC now owns 33,114 shares of the financial services provider’s stock worth $2,766,000 after acquiring an additional 12,972 shares during the period. Delta Capital Management LLC acquired a new position in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $213,000. Diversify Wealth Management LLC bought a new stake in Western Alliance Bancorporation in the 4th quarter valued at $471,000. Finally, Crossmark Global Holdings Inc. lifted its holdings in Western Alliance Bancorporation by 6.1% during the 4th quarter. Crossmark Global Holdings Inc. now owns 5,796 shares of the financial services provider’s stock valued at $484,000 after purchasing an additional 331 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WAL has been the topic of several research analyst reports. Barclays dropped their price objective on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Truist Financial assumed coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, May 13th. They set a “buy” rating and a $92.00 price objective for the company. Royal Bank of Canada decreased their target price on Western Alliance Bancorporation from $105.00 to $85.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. DA Davidson lowered their target price on Western Alliance Bancorporation from $106.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, Piper Sandler boosted their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.38.

Western Alliance Bancorporation Stock Performance

WAL opened at $78.31 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. Western Alliance Bancorporation has a 52-week low of $56.70 and a 52-week high of $98.10. The firm has a market cap of $8.65 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30. The business’s fifty day moving average is $71.85 and its 200-day moving average is $82.10.

Western Alliance Bancorporation (NYSE:WAL) last released 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 firm had revenue of $790.10 million for the quarter, compared to analyst estimates of $792.25 million. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. During the same period last year, the firm earned $1.72 EPS. Sell-side analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 1.94%. Western Alliance Bancorporation’s dividend payout ratio is currently 20.85%.

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.