HighTower Advisors LLC Has $1.33 Million Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

HighTower Advisors LLC decreased its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 8.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,438 shares of the financial services provider’s stock after selling 1,398 shares during the quarter. HighTower Advisors LLC’s holdings in Western Alliance Bancorporation were worth $1,332,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter valued at $31,000. ORG Wealth Partners LLC bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter valued at $33,000. UMB Bank n.a. increased its stake in shares of Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 249 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 187 shares in the last quarter. Finally, Chilton Capital Management LLC bought a new stake in shares of Western Alliance Bancorporation in the 2nd quarter valued at $54,000. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Up 1.5 %

Shares of WAL opened at $91.09 on Tuesday. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.41 and a beta of 1.45. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. The business’s 50 day simple moving average is $89.23 and its 200-day simple moving average is $78.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The company had revenue of $833.10 million for the quarter, compared to analysts’ expectations of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. As a group, equities analysts expect that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.38 per share. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio is 23.46%.

Analysts Set New Price Targets

Several research firms recently issued reports on WAL. Truist Financial reduced their price target on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Wedbush lifted their price target on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Barclays lifted their price target on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Piper Sandler reduced their price target on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and lifted their price target for the company from $83.00 to $101.00 in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $93.40.

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.