Wealth Enhancement Advisory Services LLC Raises Stake in Western Alliance Bancorporation $WAL

Wealth Enhancement Advisory Services LLC boosted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 143.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,047 shares of the financial services provider’s stock after acquiring an additional 7,107 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Western Alliance Bancorporation were worth $1,067,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Invesco Ltd. increased its stake in Western Alliance Bancorporation by 3.4% in the 3rd quarter. Invesco Ltd. now owns 6,016,027 shares of the financial services provider’s stock worth $521,710,000 after acquiring an additional 197,854 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Western Alliance Bancorporation by 36.5% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,979,916 shares of the financial services provider’s stock worth $518,578,000 after acquiring an additional 1,599,537 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Western Alliance Bancorporation by 1.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,674,518 shares of the financial services provider’s stock worth $318,655,000 after acquiring an additional 58,535 shares during the last quarter. William Blair Investment Management LLC increased its stake in Western Alliance Bancorporation by 3.5% in the 3rd quarter. William Blair Investment Management LLC now owns 2,394,722 shares of the financial services provider’s stock worth $207,670,000 after acquiring an additional 81,386 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Western Alliance Bancorporation by 1.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,288,233 shares of the financial services provider’s stock worth $198,436,000 after acquiring an additional 36,364 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Price Performance

Shares of Western Alliance Bancorporation stock opened at $73.02 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $8.02 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 0.63 and a beta of 1.37. The business’s 50-day moving average price is $81.06 and its 200-day moving average price is $82.47. Western Alliance Bancorporation has a 12 month low of $57.15 and a 12 month high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $2.59 EPS for the quarter, beating the consensus estimate of $2.40 by $0.19. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.The firm had revenue of $890.80 million for the quarter, compared to analyst estimates of $912.69 million. During the same period in the prior year, the company earned $1.95 EPS. The company’s revenue was up 17.0% on a year-over-year basis. Sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 20th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, February 20th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 19.24%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wells Fargo & Company upgraded Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $83.00 to $79.00 in a research note on Monday, March 9th. Keefe, Bruyette & Woods upped their target price on Western Alliance Bancorporation from $98.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Piper Sandler decreased their target price on Western Alliance Bancorporation from $108.00 to $94.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. National Alliance Securities restated a “buy” rating on shares of Western Alliance Bancorporation in a research note on Friday, March 6th. Finally, Barclays decreased their target price on Western Alliance Bancorporation from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.13.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.