Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lessened its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 9.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,635 shares of the financial services provider's stock after selling 7,402 shares during the quarter. Sequoia Financial Advisors LLC owned about 0.06% of Western Alliance Bancorporation worth $5,427,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. HWG Holdings LP purchased a new stake in Western Alliance Bancorporation in the 1st quarter worth approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in Western Alliance Bancorporation in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its position 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 worth $27,000 after purchasing an additional 117 shares in the last quarter. Atala Financial Inc purchased a new stake in Western Alliance Bancorporation in the 4th quarter worth approximately $44,000. Finally, Principal Securities Inc. boosted its position in Western Alliance Bancorporation by 338.1% in the 4th quarter. Principal Securities Inc. now owns 679 shares of the financial services provider's stock worth $57,000 after purchasing an additional 524 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on WAL. Truist Financial began coverage on Western Alliance Bancorporation in a report on Tuesday, May 13th. They issued a "buy" rating and a $92.00 price objective on the stock. DA Davidson decreased their price objective on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Barclays decreased their price objective on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Jefferies Financial Group began coverage on Western Alliance Bancorporation in a report on Wednesday, May 21st. They issued a "buy" rating and a $95.00 price objective on the stock. Finally, Royal Bank Of Canada decreased their price objective on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. 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's stock. Based on data from MarketBeat.com, Western Alliance Bancorporation presently has an average rating of "Moderate Buy" and an average price target of $97.77.

Western Alliance Bancorporation Stock Up 0.1%

NYSE WAL opened at $77.72 on Friday. Western Alliance Bancorporation has a 52 week low of $57.05 and a 52 week high of $98.10. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.73. The business's fifty day simple moving average is $73.25 and its 200-day simple moving average is $78.56. The firm has a market cap of $8.58 billion, a PE ratio of 10.66, a P/E/G ratio of 0.58 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.78 by $0.01. The firm had revenue of $790.10 million during the quarter, compared to the consensus estimate of $792.25 million. Western Alliance Bancorporation had a return on equity of 12.57% and a net margin of 15.80%. During the same period last year, the company earned $1.72 EPS. As a group, equities analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, May 15th. 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.

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