Sequoia Financial Advisors LLC Has $6.52 Million Holdings in Western Alliance Bancorporation (NYSE:WAL)

Sequoia Financial Advisors LLC raised its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 2,605.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,037 shares of the financial services provider’s stock after buying an additional 75,153 shares during the quarter. Sequoia Financial Advisors LLC owned about 0.07% of Western Alliance Bancorporation worth $6,519,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Western Alliance Bancorporation in the fourth quarter valued at $26,000. Smartleaf Asset Management LLC raised its stake in shares of Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 136 shares in the last quarter. Allworth Financial LP raised its stake in shares of Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 215 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Western Alliance Bancorporation by 167.5% in the third quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 397 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Price Performance

Shares of WAL stock opened at $75.77 on Thursday. The stock’s fifty day moving average is $85.83 and its 200-day moving average is $86.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The stock has a market capitalization of $8.37 billion, a PE ratio of 10.67, a PEG ratio of 0.63 and a beta of 1.43. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10.

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

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.41%.

Analyst Ratings Changes

WAL has been the subject of a number of recent research reports. DA Davidson cut their target price on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Wells Fargo & Company lowered their price target on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Stephens reiterated an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lowered their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation 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.