Vest Financial LLC Buys New Stake in Western Alliance Bancorporation $WAL

Vest Financial LLC purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 25,290 shares of the financial services provider’s stock, valued at approximately $1,899,000.

Several other institutional investors have also recently made changes to their positions in WAL. BlackRock Inc. purchased a new stake in Western Alliance Bancorporation during the second quarter valued at about $926,898,000. Dimensional Fund Advisors LP grew its stake in shares of Western Alliance Bancorporation by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,813,995 shares of the financial services provider’s stock valued at $270,203,000 after buying an additional 36,534 shares during the last quarter. Davis Asset Management L.P. purchased a new position in shares of Western Alliance Bancorporation in the second quarter worth about $274,219,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Western Alliance Bancorporation in the second quarter worth about $174,329,000. Finally, Jupiter Topco LLC bought a new stake in shares of Western Alliance Bancorporation in the 2nd quarter valued at about $101,995,000. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

WAL opened at $76.22 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.81 and a current ratio of 0.84. The stock has a market capitalization of $8.32 billion, a PE ratio of 8.09, a price-to-earnings-growth ratio of 0.79 and a beta of 1.42. The stock’s 50 day moving average price is $77.51 and its 200-day moving average price is $79.18. Western Alliance Bancorporation has a 52-week low of $65.82 and a 52-week high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Monday, October 19th. The financial services provider reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.02. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $987.91 million. Western Alliance Bancorporation had a net margin of 17.34% and a return on equity of 13.50%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.28 earnings per share. On average, equities research analysts predict that Western Alliance Bancorporation will post 9.00 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, August 13th. Western Alliance Bancorporation’s dividend payout ratio is presently 18.56%.

Analyst Ratings Changes

WAL has been the topic of several recent research reports. Raymond James Financial started coverage on Western Alliance Bancorporation in a research report on Tuesday, September 22nd. They set an “outperform” rating and a $90.00 price target on the stock. DA Davidson set a $107.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday. TD Cowen decreased their target price on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set a “hold” rating on the stock in a research note on Monday, October 5th. Stephens lowered their price target on shares of Western Alliance Bancorporation from $94.00 to $88.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Royal Bank Of Canada dropped their price target on shares of Western Alliance Bancorporation from $95.00 to $93.00 and set an “outperform” rating for the company in a research report on Friday, October 9th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $92.18.

About Western Alliance Bancorporation

Western Alliance Bancorporation (NYSE:WAL) is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides banking and financial services to businesses, professionals, entrepreneurs, and individual customers.

Western Alliance Bank offers commercial and industrial lending, commercial real estate financing, construction loans, residential mortgage warehouse lending, and consumer banking services. Its deposit products include checking, savings, money market, and time deposit accounts, while its other services include treasury management, online banking, payments, and wealth management solutions.

The bank serves customers through a combination of regional banking divisions and specialized businesses, with operations focused on markets including Arizona, California, and Nevada as well as nationwide industry-based lending and financial services.