Captrust Financial Advisors boosted its position in Western Alliance Bancorporation (NYSE:WAL – Free Report) by 11.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,512 shares of the financial services provider’s stock after purchasing an additional 758 shares during the quarter. Captrust Financial Advisors’ holdings in Western Alliance Bancorporation were worth $650,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in WAL. ORG Partners LLC purchased a new stake in shares of Western Alliance Bancorporation during the second quarter worth about $36,000. Raymond James & Associates grew its stake in shares of Western Alliance Bancorporation by 1.6% during the second quarter. Raymond James & Associates now owns 21,429 shares of the financial services provider’s stock worth $1,346,000 after acquiring an additional 340 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Western Alliance Bancorporation by 1.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,633,261 shares of the financial services provider’s stock worth $102,603,000 after acquiring an additional 20,254 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Western Alliance Bancorporation by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 684,016 shares of the financial services provider’s stock worth $42,970,000 after acquiring an additional 34,275 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Western Alliance Bancorporation by 114.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 903 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 481 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Piper Sandler dropped their price target on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Stephens restated an “overweight” rating and set a $102.00 price target on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. JPMorgan Chase & Co. dropped their target price on Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Barclays upped their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company upped their target price on Western Alliance Bancorporation from $92.00 to $102.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $93.40.
Get Our Latest Stock Report on WAL
Western Alliance Bancorporation Stock Up 0.8 %
NYSE WAL opened at $90.92 on Thursday. The business’s fifty day simple moving average is $88.67 and its 200-day simple moving average is $78.15. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The firm has a market cap of $10.01 billion, a PE ratio of 14.03, a P/E/G ratio of 1.47 and a beta of 1.45. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10.
Western Alliance Bancorporation (NYSE:WAL – Get Free Report) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. The business had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. As a group, equities analysts anticipate that Western Alliance Bancorporation will post 7.14 earnings per share for the current year.
Western Alliance Bancorporation Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.38 per share. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 23.46%.
About Western Alliance Bancorporation
(Free Report)
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.
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