Sequoia Financial Advisors LLC Has $6.52 Million Stake in Western Alliance Bancorporation (NYSE:WAL)

Sequoia Financial Advisors LLC raised its stake in Western Alliance Bancorporation (NYSE:WAL) by 2,605.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,037 shares of the financial services provider’s stock after buying an additional 75,153 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Western Alliance Bancorporation were worth $6,519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in WAL. State Street Corp lifted its stake in Western Alliance Bancorporation by 46.2% in the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock valued at $388,197,000 after buying an additional 1,418,472 shares during the period. FMR LLC lifted its stake in Western Alliance Bancorporation by 93.3% in the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock valued at $241,568,000 after buying an additional 1,347,921 shares during the period. Principal Financial Group Inc. lifted its stake in Western Alliance Bancorporation by 6,342.7% in the third quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock valued at $44,522,000 after buying an additional 506,778 shares during the period. Point72 Asset Management L.P. acquired a new position in Western Alliance Bancorporation in the third quarter valued at about $39,230,000. Finally, Westfield Capital Management Co. LP acquired a new position in Western Alliance Bancorporation in the third quarter valued at about $38,386,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Up 2.9 %

NYSE:WAL opened at $75.77 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The company has a market cap of $8.37 billion, a PE ratio of 10.67, a PEG ratio of 0.63 and a beta of 1.43. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The stock has a 50-day simple moving average of $85.83 and a 200 day simple moving average of $86.22.

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, beating 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 expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.01%. Western Alliance Bancorporation’s dividend payout ratio is 21.41%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Stephens reaffirmed an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Piper Sandler raised their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company dropped their price target on 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. StockNews.com raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, DA Davidson dropped their price target on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently 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.