AssuredPartners Investment Advisors LLC Purchases Shares of 6,853 Western Alliance Bancorporation (NYSE:WAL)

AssuredPartners Investment Advisors LLC acquired a new position in shares of Western Alliance Bancorporation (NYSE:WAL) in the 4th quarter, Holdings Channel reports. The fund acquired 6,853 shares of the financial services provider’s stock, valued at approximately $572,000.

A number of other hedge funds have also modified their holdings of WAL. JPMorgan Chase & Co. grew its stake in shares of Western Alliance Bancorporation by 33.3% during the 4th quarter. JPMorgan Chase & Co. now owns 254,902 shares of the financial services provider’s stock worth $21,295,000 after acquiring an additional 63,714 shares in the last quarter. Congress Wealth Management LLC DE boosted its holdings in Western Alliance Bancorporation by 17.1% during the fourth quarter. Congress Wealth Management LLC DE now owns 30,437 shares of the financial services provider’s stock worth $2,543,000 after purchasing an additional 4,439 shares during the last quarter. LPL Financial LLC grew its position in Western Alliance Bancorporation by 7.5% in the fourth quarter. LPL Financial LLC now owns 146,303 shares of the financial services provider’s stock valued at $12,222,000 after purchasing an additional 10,245 shares in the last quarter. Harbor Advisors LLC increased its stake in Western Alliance Bancorporation by 40.0% in the 4th quarter. Harbor Advisors LLC now owns 7,000 shares of the financial services provider’s stock valued at $585,000 after buying an additional 2,000 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Western Alliance Bancorporation during the 4th quarter worth about $1,771,000. 79.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WAL has been the subject of several analyst reports. UBS Group initiated coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price objective for the company. DA Davidson lowered their price target on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Piper Sandler boosted their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a report 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 for the company in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Trading Down 2.4 %

Shares of WAL stock opened at $78.00 on Friday. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10. The company has a market capitalization of $8.62 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43. The firm has a 50 day moving average price of $84.71 and a two-hundred day moving average price of $85.96. 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, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. As a group, analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.38 dividend. 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 1.95%. Western Alliance Bancorporation’s payout ratio is presently 21.41%.

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.