Venturi Wealth Management LLC Grows Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Venturi Wealth Management LLC lifted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 86.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,649 shares of the financial services provider’s stock after purchasing an additional 2,618 shares during the period. Venturi Wealth Management LLC’s holdings in Western Alliance Bancorporation were worth $472,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Retirement Systems of Alabama purchased a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth approximately $11,461,000. Franklin Resources Inc. lifted its position in shares of Western Alliance Bancorporation by 17.0% in the 3rd quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider’s stock worth $27,970,000 after purchasing an additional 45,764 shares during the period. Mutual of America Capital Management LLC purchased a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth approximately $5,099,000. BNP Paribas Financial Markets lifted its position in Western Alliance Bancorporation by 1,091.8% during the third quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider’s stock valued at $2,947,000 after acquiring an additional 31,214 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in Western Alliance Bancorporation during the third quarter valued at approximately $3,612,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $93.10 on Thursday. The company’s 50-day moving average price is $86.82 and its 200-day moving average price is $85.51. 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 company has a market cap of $10.25 billion, a P/E ratio of 13.11, a P/E/G ratio of 0.62 and a beta of 1.46. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping 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%. On average, sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio is currently 21.41%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WAL. DA Davidson cut their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Barclays raised their price target on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Piper Sandler raised their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Stephens restated an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company dropped their price target on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average 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.