Western Alliance Bancorporation (NYSE:WAL) Shares Bought by Vestcor Inc

Vestcor Inc lifted its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 108.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,496 shares of the financial services provider’s stock after buying an additional 9,088 shares during the quarter. Vestcor Inc’s holdings in Western Alliance Bancorporation were worth $1,462,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new position in Western Alliance Bancorporation during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC increased its stake in shares of Western Alliance Bancorporation by 56.0% during 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. Fifth Third Bancorp raised its position in shares of Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 136 shares during the last quarter. Allworth Financial LP lifted its stake in Western Alliance Bancorporation by 115.6% in the 4th 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. Finally, Principal Securities Inc. grew its holdings in Western Alliance Bancorporation by 338.1% during the 4th quarter. Principal Securities Inc. now owns 679 shares of the financial services provider’s stock valued at $57,000 after buying an additional 524 shares during the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Performance

Western Alliance Bancorporation stock opened at $77.31 on Friday. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The stock’s 50-day moving average is $85.53 and its 200-day moving average is $86.15.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Equities analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm 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. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.97%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.41%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WAL shares. Piper Sandler boosted their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Stephens reissued an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. UBS Group started coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.07.

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.