32,255 Shares in Western Alliance Bancorporation (NYSE:WAL) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in Western Alliance Bancorporation (NYSE:WAL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 32,255 shares of the financial services provider’s stock, valued at approximately $2,695,000.

Several other large investors also recently modified their holdings of WAL. Cerity Partners LLC bought a new position in Western Alliance Bancorporation in the third quarter valued at approximately $463,000. FMR LLC grew its stake in shares of Western Alliance Bancorporation by 93.3% in the third 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 in the last quarter. BNP Paribas Financial Markets increased its holdings in Western Alliance Bancorporation by 1,091.8% during the third quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider’s stock worth $2,947,000 after buying an additional 31,214 shares during the last quarter. Townsquare Capital LLC raised its position in Western Alliance Bancorporation by 9.0% during the third quarter. Townsquare Capital LLC now owns 8,484 shares of the financial services provider’s stock worth $734,000 after acquiring an additional 703 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Western Alliance Bancorporation by 2,830.3% in the third quarter. MetLife Investment Management LLC now owns 56,350 shares of the financial services provider’s stock valued at $4,874,000 after acquiring an additional 54,427 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WAL has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Piper Sandler lifted their price objective 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. UBS Group initiated coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price 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. Finally, StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus target price of $98.07.

Western Alliance Bancorporation Stock Performance

Western Alliance Bancorporation stock opened at $76.08 on Friday. The company has a market cap of $8.40 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43. 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’s 50-day moving average price is $84.44 and its 200-day moving average price is $85.96. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed 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. This represents a $1.52 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s payout ratio is 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.