46,164 Shares in Western Alliance Bancorporation $WAL Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 46,164 shares of the financial services provider’s stock, valued at approximately $3,467,000.

Other institutional investors have also added to or reduced their stakes in the company. Ethic Inc. increased its stake in Western Alliance Bancorporation by 2.3% in the 3rd quarter. Ethic Inc. now owns 6,612 shares of the financial services provider’s stock worth $497,000 after acquiring an additional 150 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Western Alliance Bancorporation by 17.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,046 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 155 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Western Alliance Bancorporation by 3.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 5,706 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 169 shares during the last quarter. Wedmont Private Capital boosted its position in shares of Western Alliance Bancorporation by 2.9% during the 3rd quarter. Wedmont Private Capital now owns 6,510 shares of the financial services provider’s stock valued at $492,000 after acquiring an additional 184 shares during the last quarter. Finally, Abacus Wealth Partners LLC grew its holdings in shares of Western Alliance Bancorporation by 7.0% in the third quarter. Abacus Wealth Partners LLC now owns 3,480 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $74.43 on Friday. The company has a market cap of $8.00 billion, a P/E ratio of 7.98, a P/E/G ratio of 0.76 and a beta of 1.43. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.81 and a current ratio of 0.86. The business’s 50 day moving average price is $76.69 and its 200-day moving average price is $79.44. Western Alliance Bancorporation has a fifty-two week low of $65.82 and a fifty-two week high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Monday, October 19th. The financial services provider reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.91 million. Western Alliance Bancorporation had a return on equity of 13.50% and a net margin of 17.34%. Western Alliance Bancorporation’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the company earned $2.28 earnings per share. Sell-side analysts predict that Western Alliance Bancorporation will post 9.04 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Thursday, November 12th will be issued a $0.46 dividend. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.42. The ex-dividend date is Thursday, November 12th. This represents a $1.84 annualized dividend and a dividend yield of 2.5%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 18.56%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Stephens decreased their price target on shares of Western Alliance Bancorporation from $94.00 to $88.00 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. Bank of America dropped their price objective on shares of Western Alliance Bancorporation from $91.00 to $87.00 in a research note on Thursday, October 8th. Truist Financial reduced their target price on shares of Western Alliance Bancorporation from $93.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Mizuho set a $96.00 target price on shares of Western Alliance Bancorporation in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, October 21st. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.44.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona, and the parent of Western Alliance Bank. The company provides commercial banking and related financial services to businesses, business owners and individuals. Its services include business and commercial real estate lending, deposit accounts, treasury management, and specialized banking for industries such as technology, healthcare, and property management. Through its banking divisions and specialized business lines, Western Alliance serves clients across the western United States and beyond.