Madison Investment Advisors LLC Purchases New Shares in Western Alliance Bancorporation (NYSE:WAL)

Madison Investment Advisors LLC purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 47,526 shares of the financial services provider’s stock, valued at approximately $3,970,000.

Other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in Western Alliance Bancorporation by 25.4% during the 3rd quarter. Victory Capital Management Inc. now owns 18,101 shares of the financial services provider’s stock worth $1,566,000 after acquiring an additional 3,662 shares in the last quarter. CIBC Asset Management Inc acquired a new position in Western Alliance Bancorporation during the 3rd quarter worth $278,000. Pathstone Holdings LLC grew its holdings in Western Alliance Bancorporation by 13.1% during the 3rd quarter. Pathstone Holdings LLC now owns 21,701 shares of the financial services provider’s stock worth $1,877,000 after acquiring an additional 2,509 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in Western Alliance Bancorporation during the 3rd quarter worth $223,000. Finally, Cerity Partners LLC acquired a new position in Western Alliance Bancorporation during the 3rd quarter worth $463,000. 79.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Stephens reissued an “overweight” rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. UBS Group began coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price target on the stock. DA Davidson reduced their price target on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Piper Sandler raised their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus price target of $98.07.

Western Alliance Bancorporation Trading Up 1.0 %

Shares of NYSE:WAL opened at $77.39 on Friday. The company has a market cap of $8.55 billion, a PE ratio of 10.90, a P/E/G ratio of 0.63 and a beta of 1.43. The company’s 50-day moving average price is $85.08 and its 200 day moving average price is $85.96. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.38 per share. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.96%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.41%.

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.