Alliancebernstein L.P. Purchases 23,374 Shares of Western Alliance Bancorporation (NYSE:WAL)

Alliancebernstein L.P. increased its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 12.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 215,649 shares of the financial services provider’s stock after buying an additional 23,374 shares during the period. Alliancebernstein L.P. owned about 0.20% of Western Alliance Bancorporation worth $18,015,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC raised its stake in shares of Western Alliance Bancorporation by 3.8% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 114 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 117 shares during the period. Fifth Third Bancorp raised its position in Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 136 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Western Alliance Bancorporation by 13.4% during the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock worth $111,000 after buying an additional 157 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of Western Alliance Bancorporation by 1.0% in the 4th quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider’s stock valued at $1,359,000 after buying an additional 163 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL opened at $61.94 on Tuesday. The stock’s 50 day moving average is $81.79 and its 200-day moving average is $85.45. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month 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. The firm has a market capitalization of $6.84 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, beating 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 forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio is currently 21.41%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WAL shares. Piper Sandler lifted their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. StockNews.com upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. UBS Group started coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price target on the stock. Finally, DA Davidson lowered their price objective on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.07.

Western Alliance Bancorporation Company Profile

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.