Raymond James Financial Inc. Buys Shares of 32,255 Western Alliance Bancorporation (NYSE:WAL)

Raymond James Financial Inc. purchased a new stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 32,255 shares of the financial services provider's stock, valued at approximately $2,695,000.

A number of other hedge funds also recently modified their holdings of WAL. Shelton Capital Management acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth approximately $344,000. Invesco Ltd. boosted its position in shares of Western Alliance Bancorporation by 5.1% during the fourth quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider's stock worth $479,207,000 after buying an additional 278,041 shares during the period. Bank of Montreal Can grew its stake in Western Alliance Bancorporation by 973.1% in the fourth quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider's stock valued at $35,239,000 after purchasing an additional 382,513 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Western Alliance Bancorporation by 20.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 52,710 shares of the financial services provider's stock worth $4,403,000 after acquiring an additional 9,075 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Western Alliance Bancorporation in the fourth quarter valued at $434,000. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Up 0.7 %

WAL stock traded up $0.54 during mid-day trading on Monday, reaching $73.37. 39,035 shares of the company traded hands, compared to its average volume of 1,264,503. Western Alliance Bancorporation has a fifty-two week low of $56.70 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. The firm's 50 day moving average price is $72.81 and its 200 day moving average price is $82.61. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.01. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. The business had revenue of $790.10 million for the quarter, compared to analysts' expectations of $792.25 million. During the same period last year, the business earned $1.72 EPS. As a group, equities research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be paid a $0.38 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 2.07%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 20.85%.

Analysts Set New Price Targets

Several research analysts have recently commented on WAL shares. Stephens reiterated an "overweight" rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Barclays cut their price objective on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company decreased their price target on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price objective on shares of 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. Finally, StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.62.

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.