Venturi Wealth Management LLC boosted its position in shares of Western Alliance Bancorporation (NYSE:WAL – Free Report) by 86.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,649 shares of the financial services provider’s stock after purchasing an additional 2,618 shares during the period. Venturi Wealth Management LLC’s holdings in Western Alliance Bancorporation were worth $472,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc raised its stake in Western Alliance Bancorporation by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,387 shares of the financial services provider’s stock worth $283,000 after purchasing an additional 167 shares during the period. Sanctuary Advisors LLC raised its stake in Western Alliance Bancorporation by 4.3% during the fourth quarter. Sanctuary Advisors LLC now owns 7,431 shares of the financial services provider’s stock worth $664,000 after purchasing an additional 306 shares during the period. Principal Financial Group Inc. raised its stake in Western Alliance Bancorporation by 18.5% during the fourth quarter. Principal Financial Group Inc. now owns 609,941 shares of the financial services provider’s stock worth $50,954,000 after purchasing an additional 95,173 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of Western Alliance Bancorporation by 0.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 36,258 shares of the financial services provider’s stock valued at $3,029,000 after acquiring an additional 327 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 215 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.
Western Alliance Bancorporation Stock Up 1.3 %
Shares of Western Alliance Bancorporation stock opened at $93.10 on Thursday. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The company has a 50 day moving average of $86.82 and a 200 day moving average of $85.51. 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 market capitalization of $10.25 billion, a P/E ratio of 13.11, a P/E/G ratio of 0.62 and a beta of 1.46.
Western Alliance Bancorporation Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.63%. Western Alliance Bancorporation’s dividend payout ratio is currently 21.41%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on WAL. Stephens reiterated an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Barclays lifted their price target on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. dropped 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 research report on Tuesday, January 7th. UBS Group began coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price target 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 company an “overweight” rating in a research report on Monday, February 3rd. 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $98.07.
Get Our Latest Stock Report on Western Alliance Bancorporation
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.
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