Western Alliance Bancorporation (NYSE:WAL) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in Western Alliance Bancorporation (NYSE:WAL) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,087 shares of the financial services provider’s stock after buying an additional 166 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Western Alliance Bancorporation were worth $258,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of WAL. SBI Securities Co. Ltd. acquired a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC lifted its holdings in shares of Western Alliance Bancorporation by 56.0% in 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 during the period. Allworth Financial LP lifted its holdings in shares of Western Alliance Bancorporation by 115.6% in the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock valued at $37,000 after buying an additional 215 shares during the period. Atala Financial Inc acquired a new stake in shares of Western Alliance Bancorporation during the 4th quarter valued at approximately $44,000. Finally, Principal Securities Inc. lifted its position in shares of Western Alliance Bancorporation by 338.1% during the 4th quarter. Principal Securities Inc. now owns 679 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 524 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on WAL. Stephens restated an “overweight” rating and set a $92.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. DA Davidson lowered their target price on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Truist Financial began coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, May 13th. They set a “buy” rating and a $92.00 price objective for the company. Wall Street Zen upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Wednesday, May 21st. Finally, Royal Bank of Canada lowered their price target on Western Alliance Bancorporation from $105.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.77.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock opened at $71.22 on Monday. The firm has a market cap of $7.86 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. The firm’s 50-day simple moving average is $71.42 and its 200-day simple moving average is $79.63. 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 1 year low of $57.05 and a 1 year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.01. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. The firm had revenue of $790.10 million for the quarter, compared to analyst estimates of $792.25 million. During the same quarter in the prior year, the business earned $1.72 earnings per share. Equities analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Thursday, May 15th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Thursday, May 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 20.85%.

About Western Alliance Bancorporation

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.