Focus Partners Wealth Has $8.28 Million Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Focus Partners Wealth increased its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,080 shares of the financial services provider's stock after acquiring an additional 4,909 shares during the period. Focus Partners Wealth owned about 0.09% of Western Alliance Bancorporation worth $8,277,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WAL. Norges Bank purchased a new stake in Western Alliance Bancorporation in the 4th quarter worth about $109,298,000. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Western Alliance Bancorporation by 55.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock worth $151,604,000 after acquiring an additional 648,983 shares in the last quarter. Bank of Montreal Can lifted its stake in Western Alliance Bancorporation by 973.1% in the 4th quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider's stock worth $35,239,000 after acquiring an additional 382,513 shares in the last quarter. Global Frontier Investments LLC purchased a new stake in Western Alliance Bancorporation in the 4th quarter worth about $23,809,000. Finally, Invesco Ltd. grew its holdings in shares of Western Alliance Bancorporation by 5.1% during the 4th quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider's stock valued at $479,207,000 after acquiring an additional 278,041 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on WAL. Truist Financial began coverage on shares of Western Alliance Bancorporation in a report on Tuesday. They set a "buy" rating and a $92.00 price target on the stock. Piper Sandler raised their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Wells Fargo & Company cut 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 note on Wednesday, April 9th. DA Davidson cut their price target on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Stephens reaffirmed an "overweight" rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $96.38.

Western Alliance Bancorporation Stock Up 0.9%

Shares of WAL stock opened at $79.89 on Wednesday. The stock's 50 day simple moving average is $71.59 and its 200 day simple moving average is $82.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. Western Alliance Bancorporation has a twelve month low of $56.70 and a twelve month high of $98.10. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 0.63 and a beta of 1.30.

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 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 business had revenue of $790.10 million for the quarter, compared to the consensus estimate of $792.25 million. During the same period last year, the business earned $1.72 EPS. As a group, research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 20.85%.

Western Alliance Bancorporation Company 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.

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