Vanguard Group Inc. Raises Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Vanguard Group Inc. raised its stake in Western Alliance Bancorporation (NYSE:WAL) by 0.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,719,048 shares of the financial services provider’s stock after buying an additional 4,324 shares during the quarter. Vanguard Group Inc. owned 0.10% of Western Alliance Bancorporation worth $895,469,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WAL. State Street Corp grew its position in shares of Western Alliance Bancorporation by 46.2% in the 3rd quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock worth $388,197,000 after buying an additional 1,418,472 shares during the last quarter. FMR LLC boosted its stake in Western Alliance Bancorporation by 93.3% in the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock valued at $241,568,000 after acquiring an additional 1,347,921 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Western Alliance Bancorporation by 6,342.7% in the third quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock worth $44,522,000 after purchasing an additional 506,778 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Western Alliance Bancorporation during the third quarter worth $39,230,000. Finally, Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Western Alliance Bancorporation during the 3rd quarter valued at $16,250,000. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Price Performance

Shares of WAL opened at $76.08 on Friday. The business’s 50-day moving average is $84.44 and its two-hundred day moving average is $85.92. The company has a market capitalization of $8.40 billion, a P/E ratio of 10.72, a P/E/G ratio of 0.63 and a beta of 1.43. 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 debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (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%. Research analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.00%. Western Alliance Bancorporation’s payout ratio is 21.41%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. UBS Group assumed coverage on shares of Western Alliance Bancorporation in a report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price objective on the stock. Piper Sandler lifted their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. DA Davidson cut 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 note on Wednesday, January 29th. Finally, Wells Fargo & Company lowered their price objective on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $98.07.

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.