Price T Rowe Associates Inc. MD Acquires 154,575 Shares of Western Alliance Bancorporation (NYSE:WAL)

Price T Rowe Associates Inc. MD raised its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 2.7% during the 4th quarter, HoldingsChannel reports. The fund owned 5,968,526 shares of the financial services provider’s stock after acquiring an additional 154,575 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.05% of Western Alliance Bancorporation worth $498,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Ashton Thomas Private Wealth LLC lifted its position in Western Alliance Bancorporation by 3.8% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 114 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after buying an additional 117 shares during the period. Fifth Third Bancorp lifted its position 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 valued at $28,000 after buying an additional 136 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Western Alliance Bancorporation by 13.4% during the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 157 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in Western Alliance Bancorporation by 1.0% in the 4th quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider’s stock worth $1,359,000 after acquiring an additional 163 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Analysts Set New Price Targets

WAL has been the topic of several analyst reports. Royal Bank of Canada lowered their price target on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an “outperform” rating on the stock in a report on Wednesday. Barclays dropped their target price on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Piper Sandler increased their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, 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. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.62.

Western Alliance Bancorporation Trading Up 2.9 %

Shares of WAL opened at $70.72 on Friday. Western Alliance Bancorporation has a fifty-two week low of $56.70 and a fifty-two week high of $98.10. 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 company’s fifty day moving average is $74.98 and its 200 day moving average is $83.43. The stock has a market capitalization of $7.81 billion, a PE ratio of 9.96, a P/E/G ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $792.25 million. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. During the same period in the prior year, the company earned $1.72 EPS. Sell-side analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation’s payout ratio is 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.