Invesco Ltd. Acquires 278,041 Shares of Western Alliance Bancorporation (NYSE:WAL)

Invesco Ltd. increased its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,736,263 shares of the financial services provider’s stock after buying an additional 278,041 shares during the quarter. Invesco Ltd. owned 0.05% of Western Alliance Bancorporation worth $479,207,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in Western Alliance Bancorporation during the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC raised its holdings in Western Alliance Bancorporation by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock valued at $27,000 after buying an additional 117 shares during the last quarter. Fifth Third Bancorp grew its holdings 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 acquiring an additional 136 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 215 shares during the period. Finally, Atala Financial Inc bought a new stake in shares of Western Alliance Bancorporation in the fourth quarter worth $44,000. 79.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. 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 target price for the company. Piper Sandler boosted their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. dropped their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Wells Fargo & Company cut their price objective on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus target price of $97.40.

Western Alliance Bancorporation Trading Down 2.1 %

Shares of WAL stock opened at $60.88 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The company has a 50-day simple moving average of $80.68 and a two-hundred day simple moving average of $85.09.

Western Alliance Bancorporation (NYSE:WAL) last issued 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 return on equity of 13.14% and a net margin of 15.49%. Research analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business 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. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.41%.

Western Alliance Bancorporation 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.