Stifel Financial Corp cut its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 10.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 89,700 shares of the financial services provider's stock after selling 10,494 shares during the period. Stifel Financial Corp owned 0.08% of Western Alliance Bancorporation worth $7,758,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth about $31,000. ORG Wealth Partners LLC purchased a new position in shares of Western Alliance Bancorporation during the 3rd quarter valued at approximately $33,000. UMB Bank n.a. boosted its stake in shares of Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider's stock worth $37,000 after acquiring an additional 249 shares in the last quarter. Blue Trust Inc. increased its position in shares of Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock valued at $44,000 after buying an additional 187 shares in the last quarter. Finally, ORG Partners LLC purchased a new position in Western Alliance Bancorporation in the 2nd quarter valued at about $36,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.
WAL has been the subject of several analyst reports. Truist Financial dropped their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating for the company in a report on Monday, October 21st. JPMorgan Chase & Co. dropped their price target on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating for the company in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a "hold" rating to a "buy" rating and raised their target price for the company from $83.00 to $101.00 in a report on Monday, October 7th. Wells Fargo & Company lifted their price target on Western Alliance Bancorporation from $92.00 to $102.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 3rd. Finally, Piper Sandler decreased their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $93.40.
Get Our Latest Report on Western Alliance Bancorporation
Shares of WAL opened at $90.41 on Friday. The firm's 50-day moving average is $88.83 and its two-hundred day moving average is $78.24. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $9.95 billion, a P/E ratio of 13.94, a PEG ratio of 1.42 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.
Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing analysts' consensus estimates of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The company had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. On average, research analysts predict that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.38 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.68%. This is a boost from Western Alliance Bancorporation's previous quarterly dividend of $0.37. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 23.46%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Western Alliance Bancorporation, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Western Alliance Bancorporation wasn't on the list.
While Western Alliance Bancorporation currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.