Cerity Partners LLC Takes $403,000 Position in Western Alliance Bancorporation (NYSE:WAL)

Cerity Partners LLC acquired a new stake in Western Alliance Bancorporation (NYSE:WAL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,127 shares of the financial services provider’s stock, valued at approximately $403,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parkside Financial Bank & Trust lifted its position in shares of Western Alliance Bancorporation by 422.2% in the third quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 760 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at $93,000. Busey Bank purchased a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at $202,000. Buckley Wealth Management LLC purchased a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at $207,000. Finally, Bleakley Financial Group LLC purchased a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at $212,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Price Performance

WAL stock opened at $58.58 on Friday. 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 has a 1 year low of $11.35 and a 1 year high of $70.23. The firm has a market cap of $6.45 billion, a P/E ratio of 8.54 and a beta of 1.47. The stock has a 50-day simple moving average of $59.33 and a 200-day simple moving average of $56.85.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. Western Alliance Bancorporation had a return on equity of 14.99% and a net margin of 16.50%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $711.34 million. During the same quarter last year, the firm earned $2.30 earnings per share. On average, equities analysts predict that Western Alliance Bancorporation will post 7.73 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.53%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.57%.

Analyst Ratings Changes

WAL has been the topic of several recent research reports. Truist Financial reduced their price objective on Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday. Royal Bank of Canada reduced their target price on Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Monday. Keefe, Bruyette & Woods reduced their target price on Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday. Citigroup increased their target price on Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Finally, Hovde Group assumed coverage on Western Alliance Bancorporation in a research report on Monday. They set an “outperform” rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $70.56.

Western Alliance Bancorporation Company 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.