Western Alliance Bancorporation (NYSE:WAL) Holdings Raised by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE boosted its stake in Western Alliance Bancorporation (NYSE:WAL) by 17.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,437 shares of the financial services provider’s stock after buying an additional 4,439 shares during the period. Congress Wealth Management LLC DE’s holdings in Western Alliance Bancorporation were worth $2,543,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of Western Alliance Bancorporation in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC raised its holdings 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 purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp lifted its position in Western Alliance Bancorporation by 70.1% in the fourth 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 period. Allworth Financial LP boosted its stake in Western Alliance Bancorporation by 115.6% during the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 215 shares in the last quarter. Finally, Atala Financial Inc acquired a new position in shares of Western Alliance Bancorporation during the 4th quarter valued at $44,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock opened at $79.93 on Thursday. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 0.63 and a beta of 1.43. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-year high of $98.10. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $84.89 and its 200-day simple moving average is $86.02.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. On average, sell-side analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed 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. This represents a $1.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s payout ratio is presently 21.41%.

Analyst Ratings Changes

Several analysts have recently weighed in on WAL shares. Wells Fargo & Company cut their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. UBS Group assumed coverage on shares of Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price target for the company. Piper Sandler lifted 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. Stephens reiterated an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. reduced 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 report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.07.

Western Alliance Bancorporation 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.