Sterling Capital Management LLC Purchases 2,269 Shares of Western Alliance Bancorporation (NYSE:WAL)

Sterling Capital Management LLC lifted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 26.3% in the fourth quarter, HoldingsChannel reports. The firm owned 10,903 shares of the financial services provider’s stock after purchasing an additional 2,269 shares during the quarter. Sterling Capital Management LLC’s holdings in Western Alliance Bancorporation were worth $911,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of WAL. Ashton Thomas Private Wealth LLC raised its position in shares of Western Alliance Bancorporation by 3.8% during 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 in the last quarter. Smartleaf Asset Management LLC increased its stake in Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 117 shares during the last quarter. Fifth Third Bancorp raised its position in Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 136 shares during the period. Versant Capital Management Inc lifted its stake in shares of Western Alliance Bancorporation by 13.4% in the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 157 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of 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 purchasing an additional 163 shares during the period. Institutional investors own 79.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WAL shares. UBS Group assumed coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price target for the company. Stephens reaffirmed an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. DA Davidson reduced their price objective on shares of 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. Piper Sandler boosted their target price on 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, Wells Fargo & Company reduced their price target on Western Alliance Bancorporation from $95.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.40.

Western Alliance Bancorporation Stock Up 3.4 %

Shares of Western Alliance Bancorporation stock opened at $66.11 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 0.63 and a beta of 1.29. The firm’s 50-day moving average is $77.98 and its two-hundred day moving average is $84.27. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) 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 expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 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.