Sanctuary Advisors LLC Boosts Holdings in Western Alliance Bancorporation (NYSE:WAL)

Sanctuary Advisors LLC grew its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,431 shares of the financial services provider’s stock after acquiring an additional 306 shares during the quarter. Sanctuary Advisors LLC’s holdings in Western Alliance Bancorporation were worth $664,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in WAL. State Street Corp raised its stake in shares of Western Alliance Bancorporation by 46.2% during the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock worth $388,197,000 after acquiring an additional 1,418,472 shares in the last quarter. FMR LLC raised its stake in shares of Western Alliance Bancorporation by 93.3% during the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock worth $241,568,000 after acquiring an additional 1,347,921 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Western Alliance Bancorporation by 6,342.7% during the third quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock worth $44,522,000 after acquiring an additional 506,778 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Western Alliance Bancorporation during the third quarter worth approximately $39,230,000. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Western Alliance Bancorporation during the third quarter worth approximately $38,386,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on WAL shares. Barclays lifted their price target on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Stephens reaffirmed an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. DA Davidson decreased their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price 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. Finally, 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. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.07.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $87.00 on Friday. The stock has a market cap of $9.58 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 0.63 and a beta of 1.46. The firm’s fifty day simple moving average is $86.80 and its 200 day simple moving average is $86.13. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month 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.

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

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Friday, February 14th. 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.