Kovitz Investment Group Partners LLC boosted its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 368.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,679 shares of the financial services provider's stock after acquiring an additional 15,478 shares during the period. Kovitz Investment Group Partners LLC's holdings in Western Alliance Bancorporation were worth $1,682,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in WAL. State Street Corp increased its position 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 during the period. FMR LLC increased its holdings 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 valued at $241,568,000 after buying an additional 1,347,921 shares during the period. LHM Inc. raised its stake in shares of Western Alliance Bancorporation by 2,141.1% in the 2nd quarter. LHM Inc. now owns 757,809 shares of the financial services provider's stock valued at $47,606,000 after buying an additional 723,995 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Western Alliance Bancorporation by 20.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider's stock worth $233,832,000 after acquiring an additional 636,577 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Western Alliance Bancorporation by 6,342.7% during the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider's stock valued at $44,522,000 after acquiring an additional 506,778 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.
Shares of NYSE WAL opened at $90.23 on Wednesday. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-year high of $98.10. The company has a 50-day moving average of $88.54 and a two-hundred day moving average of $77.96. The company has a market cap of $9.93 billion, a PE ratio of 13.92, a P/E/G ratio of 1.47 and a beta of 1.45. 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 (NYSE:WAL - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $833.10 million during 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, equities analysts expect that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.
The company 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. This represents a $1.52 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Western Alliance Bancorporation's previous quarterly dividend of $0.37. Western Alliance Bancorporation's dividend payout ratio is 23.46%.
Several research firms recently issued reports on WAL. 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 research report on Friday, October 18th. Truist Financial cut their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating for the company in a research report on Monday, October 21st. Stephens reiterated an "overweight" rating and issued a $102.00 price target on shares of Western Alliance Bancorporation in a research report on Friday, October 18th. Barclays lifted their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Finally, StockNews.com lowered shares of Western Alliance Bancorporation from a "hold" rating to a "sell" rating in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and an average target price of $93.40.
Check Out Our Latest Stock Report on WAL
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.
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