Wealth Enhancement Advisory Services LLC Boosts Stock Position in Western Alliance Bancorporation $WAL

Wealth Enhancement Advisory Services LLC boosted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 143.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,047 shares of the financial services provider’s stock after purchasing an additional 7,107 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Western Alliance Bancorporation were worth $1,067,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Western Alliance Bancorporation by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 3,674,518 shares of the financial services provider’s stock worth $318,655,000 after purchasing an additional 58,535 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Western Alliance Bancorporation by 3.5% during the 3rd quarter. William Blair Investment Management LLC now owns 2,394,722 shares of the financial services provider’s stock valued at $207,670,000 after buying an additional 81,386 shares during the last quarter. Congress Asset Management Co. lifted its position in shares of Western Alliance Bancorporation by 14.5% during the 3rd quarter. Congress Asset Management Co. now owns 215,419 shares of the financial services provider’s stock valued at $18,681,000 after buying an additional 27,329 shares during the last quarter. MidWestOne Financial Group Inc. lifted its position in shares of Western Alliance Bancorporation by 42.4% during the 3rd quarter. MidWestOne Financial Group Inc. now owns 36,559 shares of the financial services provider’s stock valued at $3,170,000 after buying an additional 10,887 shares during the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of Western Alliance Bancorporation by 11.1% during the 3rd quarter. Natixis Advisors LLC now owns 315,052 shares of the financial services provider’s stock valued at $27,321,000 after buying an additional 31,396 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on WAL shares. Keefe, Bruyette & Woods upped their price target on Western Alliance Bancorporation from $98.00 to $101.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Weiss Ratings cut Western Alliance Bancorporation from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 20th. Wells Fargo & Company raised Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and dropped their price target for the company from $83.00 to $79.00 in a research report on Monday, March 9th. Truist Financial set a $98.00 price target on Western Alliance Bancorporation in a research report on Friday, January 9th. Finally, Piper Sandler dropped their price target on Western Alliance Bancorporation from $108.00 to $94.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.13.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $73.02 on Tuesday. The stock’s 50-day simple moving average is $81.06 and its 200 day simple moving average is $82.47. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 0.63 and a beta of 1.37. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 0.85. Western Alliance Bancorporation has a 52-week low of $57.15 and a 52-week high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.19. The business had revenue of $890.80 million for the quarter, compared to analysts’ expectations of $912.69 million. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.95 EPS. Research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 20th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $1.68 dividend on an annualized basis and a yield of 2.3%. Western Alliance Bancorporation’s dividend payout ratio is 19.24%.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.