11,964 Shares in Western Alliance Bancorporation (NYSE:WAL) Purchased by Vest Financial LLC

Vest Financial LLC bought a new stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,964 shares of the financial services provider's stock, valued at approximately $919,000.

Other large investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of Western Alliance Bancorporation during the 4th quarter valued at $26,000. Smartleaf Asset Management LLC increased its position in Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after buying an additional 117 shares during the last quarter. Allworth Financial LP raised its holdings in Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock valued at $37,000 after buying an additional 215 shares in the last quarter. Atala Financial Inc acquired a new stake in shares of Western Alliance Bancorporation in the fourth quarter worth about $44,000. Finally, Principal Securities Inc. boosted its stake in shares of Western Alliance Bancorporation by 338.1% during the 4th quarter. Principal Securities Inc. now owns 679 shares of the financial services provider's stock worth $57,000 after acquiring an additional 524 shares in the last quarter. 79.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

WAL has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their price objective on 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. Barclays dropped their price target on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Truist Financial assumed coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, May 13th. They issued a "buy" rating and a $92.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Finally, Wall Street Zen upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and a consensus price target of $97.77.

Western Alliance Bancorporation Stock Performance

Shares of WAL traded down $0.69 during trading hours on Thursday, reaching $73.70. 431,789 shares of the company traded hands, compared to its average volume of 1,219,576. 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 stock's fifty day moving average is $70.98 and its 200 day moving average is $80.13. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $98.10. The stock has a market cap of $8.14 billion, a P/E ratio of 10.38, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $790.10 million during the quarter, compared to the consensus estimate of $792.25 million. During the same quarter last year, the company earned $1.72 EPS. Equities research analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 2.06%. Western Alliance Bancorporation's dividend payout ratio is currently 20.85%.

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.