Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. decreased its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 11.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,854 shares of the financial services provider’s stock after selling 1,026 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Western Alliance Bancorporation were worth $517,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Harbour Investments Inc. raised its stake in shares of Western Alliance Bancorporation by 400.7% during the first quarter. Harbour Investments Inc. now owns 696 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 557 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of Western Alliance Bancorporation during the first quarter valued at about $64,000. Lazard Asset Management LLC bought a new stake in shares of Western Alliance Bancorporation during the second quarter valued at about $28,000. State of Wyoming raised its stake in shares of Western Alliance Bancorporation by 54.7% during the second quarter. State of Wyoming now owns 783 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 277 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Western Alliance Bancorporation by 436.9% during the first quarter. Canada Pension Plan Investment Board now owns 800 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 651 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WAL. Stephens restated an “overweight” rating and set a $82.00 price objective on shares of Western Alliance Bancorporation in a research note on Friday. Wedbush dropped their price target on shares of Western Alliance Bancorporation from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday. DA Davidson reiterated a “buy” rating and issued a $85.00 price target on shares of Western Alliance Bancorporation in a research report on Thursday, March 21st. Jefferies Financial Group dropped their price target on shares of Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $71.36.

Western Alliance Bancorporation Trading Up 3.0 %

Shares of NYSE WAL opened at $57.42 on Friday. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 8.78 and a beta of 1.47. The business has a 50 day simple moving average of $59.50 and a 200 day simple moving average of $56.41. Western Alliance Bancorporation has a 52 week low of $11.35 and a 52 week high of $70.23. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.69 by $0.03. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $711.34 million. Western Alliance Bancorporation had a return on equity of 16.33% and a net margin of 16.74%. During the same quarter in the previous year, the business posted $2.30 EPS. On average, research analysts predict that Western Alliance Bancorporation will post 7.88 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a $0.37 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.48 annualized dividend and a dividend yield of 2.58%. Western Alliance Bancorporation’s payout ratio is 22.63%.

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.