Wells Fargo & Company MN Acquires 4,797 Shares of Western Alliance Bancorporation (NYSE:WAL)

Wells Fargo & Company MN grew its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 15.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,217 shares of the financial services provider's stock after acquiring an additional 4,797 shares during the period. Wells Fargo & Company MN's holdings in Western Alliance Bancorporation were worth $2,942,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC increased its holdings in shares of Western Alliance Bancorporation by 3.8% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider's stock worth $260,000 after purchasing an additional 114 shares during the period. Smartleaf Asset Management LLC lifted its position in 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 during the last quarter. Fifth Third Bancorp boosted its stake in shares of Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 136 shares during the period. Versant Capital Management Inc boosted its stake in shares of Western Alliance Bancorporation by 13.4% during the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider's stock valued at $111,000 after purchasing an additional 157 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of Western Alliance Bancorporation by 1.0% during the fourth quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider's stock valued at $1,359,000 after purchasing an additional 163 shares during the period. Hedge funds and other institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock traded up $0.55 during mid-day trading on Tuesday, reaching $70.95. 713,835 shares of the company's stock traded hands, compared to its average volume of 1,217,404. Western Alliance Bancorporation has a 12-month low of $56.70 and a 12-month high of $98.10. The company 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 has a 50 day moving average of $73.71 and a two-hundred day moving average of $83.09.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its 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 for 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 in the prior year, the firm posted $1.72 earnings per share. Equities analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. 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 note on Wednesday, April 9th. Royal Bank of Canada reduced their price target on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Barclays reduced their price objective on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Piper Sandler increased their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price 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.