NewEdge Advisors LLC Has $381,000 Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

NewEdge Advisors LLC grew its stake in Western Alliance Bancorporation (NYSE:WAL) by 11.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,566 shares of the financial services provider’s stock after buying an additional 470 shares during the period. NewEdge Advisors LLC’s holdings in Western Alliance Bancorporation were worth $381,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC increased its stake 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 valued at $27,000 after buying an additional 117 shares during the period. Fifth Third Bancorp increased its stake 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 valued at $28,000 after buying an additional 136 shares during the period. Allworth Financial LP grew its stake in Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 215 shares during the period. Finally, Atala Financial Inc acquired a new stake in Western Alliance Bancorporation during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analyst Upgrades and Downgrades

WAL has been the subject of several recent analyst reports. DA Davidson decreased their target price on Western Alliance Bancorporation from $106.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company decreased their target price on Western Alliance Bancorporation from $95.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. StockNews.com raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Stephens reissued an “overweight” rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.62.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $70.95 on Wednesday. Western Alliance Bancorporation has a 1 year low of $56.70 and a 1 year high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 0.63 and a beta of 1.29. The company has a fifty day moving average price of $73.71 and a 200-day moving average price of $83.09.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.01. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. The firm had revenue of $790.10 million during the quarter, compared to analyst estimates of $792.25 million. During the same quarter in the prior year, the business posted $1.72 EPS. As a group, equities research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.14%. Western Alliance Bancorporation’s payout ratio is 20.85%.

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.