Janney Montgomery Scott LLC Makes New $298,000 Investment in Western Alliance Bancorporation (NYSE:WAL)

Janney Montgomery Scott LLC acquired a new stake in Western Alliance Bancorporation (NYSE:WAL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,572 shares of the financial services provider’s stock, valued at approximately $298,000.

Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Western Alliance Bancorporation during the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new stake in Western Alliance Bancorporation in the third quarter valued at approximately $33,000. UMB Bank n.a. increased its position in Western Alliance Bancorporation by 136.8% during the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 249 shares during the last quarter. Blue Trust Inc. raised its stake in 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 purchasing an additional 187 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of Western Alliance Bancorporation by 167.5% in the 3rd 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 WAL opened at $89.44 on Wednesday. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The firm has a market cap of $9.84 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 0.64 and a beta of 1.46. The business’s 50 day moving average is $87.24 and its two-hundred day moving average is $85.09.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data 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%. Analysts forecast that Western Alliance Bancorporation will post 8.99 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.70%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.41%.

Analyst Ratings Changes

Several research analysts recently weighed in on WAL shares. Stephens reaffirmed an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. UBS Group initiated coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Piper Sandler lifted 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. Finally, DA Davidson dropped their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.07.

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.