AssuredPartners Investment Advisors LLC Invests $572,000 in Western Alliance Bancorporation (NYSE:WAL)

AssuredPartners Investment Advisors LLC bought a new stake in Western Alliance Bancorporation (NYSE:WAL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,853 shares of the financial services provider’s stock, valued at approximately $572,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Western Alliance Bancorporation by 46.2% during the third 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 in the last quarter. FMR LLC raised its position in shares of Western Alliance Bancorporation by 93.3% during the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock worth $241,568,000 after buying an additional 1,347,921 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of 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 worth $164,019,000 after acquiring an additional 74,956 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Western Alliance Bancorporation by 4.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider’s stock valued at $157,369,000 after acquiring an additional 81,238 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Western Alliance Bancorporation by 6.9% during the third quarter. Geode Capital Management LLC now owns 1,880,681 shares of the financial services provider’s stock valued at $162,701,000 after acquiring an additional 120,729 shares during the period. Institutional investors own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WAL. Stephens reissued an “overweight” rating and issued a $103.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Wells Fargo & Company cut their price target on shares of 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. JPMorgan Chase & Co. lowered their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. UBS Group started coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a “buy” rating and a $115.00 target price for the company. Finally, Piper Sandler lifted their price target 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. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Price Performance

WAL opened at $78.00 on Friday. The stock has a market cap of $8.62 billion, a P/E ratio of 10.99, a P/E/G ratio of 0.63 and a beta of 1.43. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. 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 fifty day simple moving average of $84.71 and a 200 day simple moving average of $85.96.

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

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.95%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.41%.

Western Alliance Bancorporation 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.