Envestnet Asset Management Inc. Buys 9,075 Shares of Western Alliance Bancorporation (NYSE:WAL)

Envestnet Asset Management Inc. boosted its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 20.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,710 shares of the financial services provider's stock after purchasing an additional 9,075 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Western Alliance Bancorporation were worth $4,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new position in Western Alliance Bancorporation in the 4th quarter worth $434,000. Wells Fargo & Company MN boosted its position in Western Alliance Bancorporation by 15.8% during the fourth quarter. Wells Fargo & Company MN now owns 35,217 shares of the financial services provider's stock valued at $2,942,000 after buying an additional 4,797 shares during the period. Riverwater Partners LLC boosted its position in Western Alliance Bancorporation by 2.6% during the fourth quarter. Riverwater Partners LLC now owns 22,904 shares of the financial services provider's stock valued at $1,913,000 after buying an additional 575 shares during the period. Franklin Resources Inc. boosted its position in Western Alliance Bancorporation by 16.8% during the fourth quarter. Franklin Resources Inc. now owns 367,985 shares of the financial services provider's stock valued at $30,741,000 after buying an additional 53,013 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Western Alliance Bancorporation by 12.2% during the fourth quarter. Alliancebernstein L.P. now owns 215,649 shares of the financial services provider's stock valued at $18,015,000 after acquiring an additional 23,374 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Up 0.8 %

Shares of WAL stock traded up $0.55 during trading hours on Tuesday, hitting $70.95. 713,835 shares of the company's stock traded hands, compared to its average volume of 1,217,404. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 0.63 and a beta of 1.29. 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 stock's fifty day simple moving average is $73.71 and its two-hundred day simple moving average is $83.09. Western Alliance Bancorporation has a 12-month low of $56.70 and a 12-month high of $98.10.

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 company had revenue of $790.10 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $1.72 earnings per share. On average, analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 20.85%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WAL shares. DA Davidson dropped their target price on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Stephens restated an "overweight" rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. StockNews.com upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Barclays lowered 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. Finally, Piper Sandler raised their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.