Thornburg Investment Management Inc. Has $15.08 Million Stake in Western Alliance Bancorporation (NYSE:WAL)

Thornburg Investment Management Inc. raised its stake in Western Alliance Bancorporation (NYSE:WAL) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 180,474 shares of the financial services provider’s stock after purchasing an additional 977 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Western Alliance Bancorporation were worth $15,077,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Western Alliance Bancorporation in the 4th quarter valued at $109,298,000. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Western Alliance Bancorporation by 55.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider’s stock worth $151,604,000 after acquiring an additional 648,983 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Western Alliance Bancorporation by 23.5% in the fourth quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider’s stock valued at $195,616,000 after purchasing an additional 445,176 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Western Alliance Bancorporation by 973.1% during the fourth quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider’s stock valued at $35,239,000 after purchasing an additional 382,513 shares in the last quarter. Finally, Global Frontier Investments LLC purchased a new position in Western Alliance Bancorporation during the fourth quarter worth about $23,809,000. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Down 0.1%

Shares of Western Alliance Bancorporation stock opened at $78.31 on Friday. The stock has a market capitalization of $8.65 billion, a P/E ratio of 11.03, a P/E/G ratio of 0.63 and a beta of 1.30. Western Alliance Bancorporation has a 52-week low of $56.70 and a 52-week high of $98.10. 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’s 50-day simple moving average is $71.85 and its 200 day simple moving average is $82.11.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.01. The company had revenue of $790.10 million for the quarter, compared to analyst estimates of $792.25 million. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. During the same quarter in the previous year, the firm posted $1.72 earnings per share. As a group, research analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, May 15th. Western Alliance Bancorporation’s payout ratio is currently 20.85%.

Wall Street Analysts Forecast Growth

WAL has been the subject of several analyst reports. Wells Fargo & Company decreased their price objective on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Stephens reaffirmed an “overweight” rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. StockNews.com cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Monday, May 12th. Royal Bank of Canada decreased their target price on Western Alliance Bancorporation from $105.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Finally, DA Davidson lowered their target price on Western Alliance Bancorporation from $106.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.38.

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.