Sanctuary Advisors LLC Buys 3,365 Shares of Western Alliance Bancorporation (NYSE:WAL)

Sanctuary Advisors LLC lifted its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 89.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,125 shares of the financial services provider’s stock after buying an additional 3,365 shares during the quarter. Sanctuary Advisors LLC’s holdings in Western Alliance Bancorporation were worth $667,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of 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 worth $388,197,000 after buying an additional 1,418,472 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Western Alliance Bancorporation by 20.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock valued at $233,832,000 after acquiring an additional 636,577 shares in the last quarter. William Blair Investment Management LLC increased its position in Western Alliance Bancorporation by 0.7% during the second quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider’s stock worth $176,764,000 after acquiring an additional 20,876 shares during the period. FMR LLC raised its stake in Western Alliance Bancorporation by 93.3% in the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock worth $241,568,000 after purchasing an additional 1,347,921 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Western Alliance Bancorporation by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,896,377 shares of the financial services provider’s stock valued at $164,019,000 after purchasing an additional 74,956 shares during the period. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Down 0.1 %

Shares of WAL stock opened at $84.75 on Wednesday. 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 firm has a market capitalization of $9.33 billion, a P/E ratio of 13.08, a P/E/G ratio of 1.41 and a beta of 1.45. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10. The stock’s fifty day simple moving average is $89.06 and its 200 day simple moving average is $79.81.

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 firm had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. As a group, sell-side analysts predict that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.79%. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 23.46%.

Analysts Set New Price Targets

WAL has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upgraded 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. Barclays upped their target price on 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 dropped their price target on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Wells Fargo & Company increased their price objective on shares of Western Alliance Bancorporation from $92.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Western Alliance Bancorporation has an average rating of “Moderate Buy” and an average price target of $94.75.

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.