Western Alliance Bancorporation $WAL Holdings Raised by Bank of Montreal Can

Bank of Montreal Can increased its stake in Western Alliance Bancorporation (NYSE:WAL) by 35.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,179,518 shares of the financial services provider’s stock after purchasing an additional 310,826 shares during the quarter. Bank of Montreal Can owned about 1.07% of Western Alliance Bancorporation worth $102,288,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Western Alliance Bancorporation by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 3,674,518 shares of the financial services provider’s stock worth $318,655,000 after purchasing an additional 58,535 shares during the period. Congress Asset Management Co. increased its position in shares of Western Alliance Bancorporation by 14.5% during the 3rd quarter. Congress Asset Management Co. now owns 215,419 shares of the financial services provider’s stock valued at $18,681,000 after purchasing an additional 27,329 shares during the period. William Blair Investment Management LLC increased its position in shares of Western Alliance Bancorporation by 3.5% during the 3rd quarter. William Blair Investment Management LLC now owns 2,394,722 shares of the financial services provider’s stock valued at $207,670,000 after purchasing an additional 81,386 shares during the period. MidWestOne Financial Group Inc. raised its stake in shares of Western Alliance Bancorporation by 42.4% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 36,559 shares of the financial services provider’s stock worth $3,170,000 after buying an additional 10,887 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Western Alliance Bancorporation by 568.0% in the 3rd quarter. SG Americas Securities LLC now owns 17,355 shares of the financial services provider’s stock worth $1,505,000 after buying an additional 14,757 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

NYSE WAL opened at $69.61 on Thursday. The stock’s 50-day moving average price is $87.81 and its two-hundred day moving average price is $85.02. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The company has a market cap of $7.65 billion, a PE ratio of 7.97, a PEG ratio of 0.62 and a beta of 1.34. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Tuesday, January 27th. The financial services provider reported $2.59 EPS for the quarter, topping the consensus estimate of $2.40 by $0.19. The company had revenue of $890.80 million during the quarter, compared to analysts’ expectations of $912.69 million. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the company posted $1.95 earnings per share. On average, analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 20th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, February 20th. Western Alliance Bancorporation’s dividend payout ratio is 19.24%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WAL. Truist Financial set a $98.00 target price on Western Alliance Bancorporation in a research note on Friday, January 9th. Weiss Ratings upgraded shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 5th. TD Cowen downgraded shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating and set a $83.00 price target for the company. in a report on Monday. National Alliance Securities reaffirmed a “buy” rating on shares of Western Alliance Bancorporation in a research note on Friday, March 6th. Finally, Barclays reiterated an “overweight” rating on shares of Western Alliance Bancorporation in a report on Monday, February 2nd. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.40.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.