Western Alliance Bancorporation (NYSE:WAL) Position Boosted by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lifted its stake in Western Alliance Bancorporation (NYSE:WAL) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,796 shares of the financial services provider’s stock after purchasing an additional 331 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Western Alliance Bancorporation were worth $484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in WAL. V Square Quantitative Management LLC purchased a new stake in Western Alliance Bancorporation in the 3rd quarter worth approximately $31,000. ORG Wealth Partners LLC acquired a new position in shares of Western Alliance Bancorporation in the third quarter worth $33,000. UMB Bank n.a. increased its stake in shares of 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 worth $37,000 after acquiring an additional 249 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Western Alliance Bancorporation by 58.4% during the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 187 shares in the last quarter. Finally, Covestor Ltd boosted its position in Western Alliance Bancorporation by 167.5% during the third quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 397 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL opened at $92.00 on Monday. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The company has a market cap of $10.13 billion, a P/E ratio of 14.20, a P/E/G ratio of 0.88 and a beta of 1.46. The business’s 50 day moving average is $88.03 and its two-hundred day moving average is $83.77. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors 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 1.65%. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s payout ratio is 23.46%.

Wall Street Analyst Weigh In

WAL has been the subject of a number of recent research reports. Truist Financial cut their price target on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Stephens reaffirmed an “overweight” rating and set a $102.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday, October 18th. Barclays boosted their target price on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Wells Fargo & Company cut 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 report on Monday, January 6th. Finally, UBS Group initiated coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued 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 a consensus price target of $94.31.

Western Alliance Bancorporation Company 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.