Madison Investment Advisors LLC Invests $3.97 Million in Western Alliance Bancorporation (NYSE:WAL)

Madison Investment Advisors LLC acquired a new position in Western Alliance Bancorporation (NYSE:WAL) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 47,526 shares of the financial services provider’s stock, valued at approximately $3,970,000.

Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC increased its position in shares of Western Alliance Bancorporation by 3.8% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider’s stock worth $260,000 after acquiring an additional 114 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 117 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 136 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Western Alliance Bancorporation by 13.4% in the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 157 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Western Alliance Bancorporation by 1.0% in the fourth quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider’s stock worth $1,359,000 after acquiring an additional 163 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WAL shares. Piper Sandler lifted their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. DA Davidson dropped their target price 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. JPMorgan Chase & Co. decreased their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. UBS Group started coverage on shares of Western Alliance Bancorporation in a report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price target for the company. Finally, Stephens restated an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.07.

Western Alliance Bancorporation Price Performance

Shares of Western Alliance Bancorporation stock opened at $77.39 on Friday. The firm has a fifty day simple moving average of $85.08 and a 200-day simple moving average of $85.96. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-year high of $98.10. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 0.63 and a beta of 1.43.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. On average, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.41%.

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.