Private Advisor Group LLC Has $231,000 Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Private Advisor Group LLC decreased its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 31.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,763 shares of the financial services provider’s stock after selling 1,293 shares during the period. Private Advisor Group LLC’s holdings in Western Alliance Bancorporation were worth $231,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fifth Third Bancorp boosted its holdings in Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 136 shares in the last quarter. Allworth Financial LP grew its position in Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock valued at $37,000 after buying an additional 215 shares during the period. Covestor Ltd grew 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 buying an additional 397 shares during the period. Principal Securities Inc. boosted its position in Western Alliance Bancorporation by 338.1% during the fourth quarter. Principal Securities Inc. now owns 679 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 524 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in Western Alliance Bancorporation by 196.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 920 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 610 shares during the period. Institutional investors own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barclays raised their price objective 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. UBS Group started coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a “buy” rating and a $115.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler lifted their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, 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. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.07.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL opened at $78.56 on Friday. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. The business has a 50-day simple moving average of $86.53 and a two-hundred day simple moving average of $86.27. 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 firm has a market cap of $8.68 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 0.63 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating 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, analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.93%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.41%.

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.