Jefferies Financial Group Inc. Makes New $3.47 Million Investment in Western Alliance Bancorporation $WAL

Jefferies Financial Group Inc. acquired a new position in Western Alliance Bancorporation (NYSE:WAL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 46,164 shares of the financial services provider’s stock, valued at approximately $3,467,000.

A number of other institutional investors also recently bought and sold shares of WAL. Northwestern Mutual Wealth Management Co. bought a new position in shares of Western Alliance Bancorporation in the second quarter worth about $26,000. Fortitude Family Office LLC grew its stake in shares of Western Alliance Bancorporation by 173.5% during the 3rd quarter. Fortitude Family Office LLC now owns 361 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 229 shares during the period. Provenance Wealth Advisors LLC purchased a new stake in Western Alliance Bancorporation in the 3rd quarter worth approximately $31,000. Compound Global Advisors LLC purchased a new stake in Western Alliance Bancorporation in the 2nd quarter worth approximately $41,000. Finally, PenderFund Capital Management Ltd. purchased a new stake in Western Alliance Bancorporation in the 2nd quarter worth approximately $43,000. 79.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WAL has been the topic of several analyst reports. Royal Bank Of Canada lowered their price target on shares of Western Alliance Bancorporation from $95.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, October 9th. Mizuho set a $96.00 price objective on shares of Western Alliance Bancorporation in a research report on Thursday, July 23rd. Weiss Ratings upgraded shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, November 4th. Keefe, Bruyette & Woods lowered their target price on shares of Western Alliance Bancorporation from $92.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 21st. Finally, Truist Financial dropped their target price on shares of Western Alliance Bancorporation from $93.00 to $84.00 and set a “buy” rating for the company in a 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 MarketBeat.com, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and an average target price of $92.44.

Western Alliance Bancorporation Trading Down 1.6%

Shares of WAL opened at $74.43 on Friday. The firm has a market cap of $8.00 billion, a P/E ratio of 7.98, a price-to-earnings-growth ratio of 0.76 and a beta of 1.43. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.81. Western Alliance Bancorporation has a 1 year low of $65.82 and a 1 year high of $97.23. The company has a 50 day simple moving average of $76.69 and a two-hundred day simple moving average of $79.44.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Monday, October 19th. The financial services provider reported $2.45 EPS for the quarter, topping the consensus estimate of $2.43 by $0.02. Western Alliance Bancorporation had a net margin of 17.34% and a return on equity of 13.50%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $987.91 million. During the same quarter in the previous year, the firm earned $2.28 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts expect that Western Alliance Bancorporation will post 9.04 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Thursday, November 12th will be issued a $0.46 dividend. The ex-dividend date is Thursday, November 12th. This represents a $1.84 dividend on an annualized basis and a yield of 2.5%. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.42. Western Alliance Bancorporation’s payout ratio is presently 18.56%.

Western Alliance Bancorporation Company Profile

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.