Western Alliance Bancorporation (NYSE:WAL) Shares Purchased by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC boosted its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,301 shares of the financial services provider’s stock after buying an additional 2,492 shares during the period. Oliver Luxxe Assets LLC’s holdings in Western Alliance Bancorporation were worth $4,202,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WAL. V Square Quantitative Management LLC purchased a new position in shares of Western Alliance Bancorporation during the third quarter worth approximately $31,000. ORG Wealth Partners LLC purchased a new position in Western Alliance Bancorporation during the 3rd quarter worth $33,000. UMB Bank n.a. increased its stake in Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 249 shares during the period. Blue Trust Inc. raised its holdings in shares of Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after buying an additional 187 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Western Alliance Bancorporation by 167.5% during the third quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock worth $55,000 after buying an additional 397 shares during the period. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on WAL. Truist Financial dropped their price target on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. JPMorgan Chase & Co. dropped their target price on Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Royal Bank of Canada set a $99.00 price target on Western Alliance Bancorporation and gave the stock an “outperform” rating in a report on Friday, October 18th. Piper Sandler dropped their price objective on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, Stephens restated an “overweight” rating and issued a $102.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $94.31.

Western Alliance Bancorporation Price Performance

NYSE WAL traded down $0.54 during mid-day trading on Monday, hitting $83.86. The stock had a trading volume of 798,704 shares, compared to its average volume of 747,485. The company has a 50 day simple moving average of $88.71 and a 200 day simple moving average of $81.37. The company has a market cap of $9.23 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 1.41 and a beta of 1.46. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The firm had revenue of $833.10 million during the quarter, compared to analysts’ expectations of $811.40 million. Equities analysts forecast that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.81%. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s payout ratio is presently 23.46%.

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.