Focus Partners Wealth Has $8.28 Million Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Focus Partners Wealth raised its holdings in Western Alliance Bancorporation (NYSE:WAL) by 5.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 99,080 shares of the financial services provider’s stock after buying an additional 4,909 shares during the quarter. Focus Partners Wealth’s holdings in Western Alliance Bancorporation were worth $8,277,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC grew its holdings in Western Alliance Bancorporation by 3.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider’s stock valued at $260,000 after buying an additional 114 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Western Alliance Bancorporation by 56.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 136 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Western Alliance Bancorporation by 1.0% during the 4th quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider’s stock worth $1,359,000 after purchasing an additional 163 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Western Alliance Bancorporation by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,387 shares of the financial services provider’s stock worth $283,000 after purchasing an additional 167 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analysts Set New Price Targets

WAL has been the topic of several recent research reports. Piper Sandler lifted their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. StockNews.com lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Monday. Wells Fargo & Company cut their target price on Western Alliance Bancorporation from $95.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. DA Davidson cut their target price on Western Alliance Bancorporation from $106.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, Barclays cut their target price on Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.38.

Western Alliance Bancorporation Trading Up 0.9%

Shares of WAL opened at $79.89 on Wednesday. The stock has a fifty day moving average price of $71.59 and a two-hundred day moving average price of $82.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. Western Alliance Bancorporation has a 52-week low of $56.70 and a 52-week high of $98.10. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 0.63 and a beta of 1.30.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.01. The firm had revenue of $790.10 million during the quarter, compared to the consensus estimate of $792.25 million. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. During the same quarter in the previous year, the company posted $1.72 EPS. Analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.90%. Western Alliance Bancorporation’s payout ratio is currently 20.85%.

Western Alliance Bancorporation 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.