PAX Financial Group LLC Has $1.48 Million Stock Position in Western Alliance Bancorporation (NYSE:WAL)

PAX Financial Group LLC lessened its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,660 shares of the financial services provider’s stock after selling 221 shares during the quarter. PAX Financial Group LLC’s holdings in Western Alliance Bancorporation were worth $1,475,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of WAL. State Street Corp grew its position in Western Alliance Bancorporation by 46.2% in the 3rd quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock worth $388,197,000 after purchasing an additional 1,418,472 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Western Alliance Bancorporation by 4.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,896,377 shares of the financial services provider’s stock worth $164,019,000 after purchasing an additional 74,956 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Western Alliance Bancorporation by 4.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider’s stock worth $157,369,000 after buying an additional 81,238 shares during the last quarter. Geode Capital Management LLC grew its position in Western Alliance Bancorporation by 6.9% during the third quarter. Geode Capital Management LLC now owns 1,880,681 shares of the financial services provider’s stock valued at $162,701,000 after buying an additional 120,729 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Western Alliance Bancorporation by 55.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider’s stock worth $151,604,000 after buying an additional 648,983 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on WAL shares. StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Wells Fargo & Company decreased their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Stephens restated an “overweight” rating and issued a $103.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Piper Sandler upped their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their price target 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. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.07.

Western Alliance Bancorporation Price Performance

WAL opened at $65.39 on Friday. The stock has a market capitalization of $7.22 billion, a P/E ratio of 9.21, a PEG ratio of 0.63 and a beta of 1.43. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10. The stock has a 50-day moving average price of $83.04 and a 200-day moving average price of $85.76.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Equities analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.32%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio is presently 21.41%.

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.