Raymond James Financial Inc. Makes New Investment in Western Alliance Bancorporation (NYSE:WAL)

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

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in Western Alliance Bancorporation during the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC grew its position in shares of 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 in 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 valued at $28,000 after buying an additional 136 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock worth $37,000 after buying an additional 215 shares in the last quarter. Finally, Atala Financial Inc bought a new position in shares of Western Alliance Bancorporation in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Trading Up 2.5 %

WAL traded up $1.80 on Friday, hitting $72.78. 1,123,598 shares of the company were exchanged, compared to its average volume of 1,216,982. The stock has a market capitalization of $8.05 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a 12 month low of $56.70 and a 12 month 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. The firm has a fifty day simple moving average of $73.06 and a two-hundred day simple moving average of $82.88.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $790.10 million during the quarter, compared to analysts' expectations of $792.25 million. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. During the same quarter in the prior year, the company posted $1.72 EPS. Sell-side analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, May 15th. Western Alliance Bancorporation's payout ratio is 20.85%.

Analyst Ratings Changes

WAL has been the topic of several recent analyst reports. Royal Bank of Canada lowered their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company dropped their price target on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Stephens restated an "overweight" rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. StockNews.com upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, DA Davidson lowered their price objective on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation has an average rating of "Moderate Buy" and an average price target of $96.62.

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.