HighTower Advisors LLC Purchases 1,312 Shares of Western Alliance Bancorporation (NYSE:WAL)

HighTower Advisors LLC increased its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 8.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,750 shares of the financial services provider’s stock after purchasing an additional 1,312 shares during the period. HighTower Advisors LLC’s holdings in Western Alliance Bancorporation were worth $1,399,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp increased its position in Western Alliance Bancorporation by 46.2% during the 3rd quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock valued at $388,197,000 after purchasing an additional 1,418,472 shares during the period. FMR LLC increased its holdings in Western Alliance Bancorporation by 93.3% during the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock valued at $241,568,000 after buying an additional 1,347,921 shares during the period. Principal Financial Group Inc. raised its stake in Western Alliance Bancorporation by 6,342.7% in the third quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock worth $44,522,000 after buying an additional 506,778 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Western Alliance Bancorporation during the third quarter worth $39,230,000. Finally, Westfield Capital Management Co. LP bought a new stake in Western Alliance Bancorporation during the 3rd quarter valued at $38,386,000. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Trading Up 4.1 %

Western Alliance Bancorporation stock opened at $80.58 on Tuesday. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The stock has a 50-day moving average price of $85.10 and a 200 day moving average price of $86.05. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $8.90 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 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%. Sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.38 per share. 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 1.89%. Western Alliance Bancorporation’s payout ratio is currently 21.41%.

Analyst Upgrades and Downgrades

WAL has been the subject of a number of analyst reports. Stephens restated an “overweight” rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. DA Davidson cut 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 increased their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Wells Fargo & Company decreased their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.07.

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.