Strs Ohio reduced its position in Western Alliance Bancorporation (NYSE:WAL – Free Report) by 96.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,584 shares of the financial services provider’s stock after selling 67,216 shares during the quarter. Strs Ohio’s holdings in Western Alliance Bancorporation were worth $217,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Western Alliance Bancorporation by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 3,674,518 shares of the financial services provider’s stock worth $318,655,000 after purchasing an additional 58,535 shares during the period. William Blair Investment Management LLC lifted its position in Western Alliance Bancorporation by 3.5% in the third quarter. William Blair Investment Management LLC now owns 2,394,722 shares of the financial services provider’s stock worth $207,670,000 after purchasing an additional 81,386 shares during the period. Hudson Bay Capital Management LP bought a new position in Western Alliance Bancorporation in the third quarter worth $13,339,000. M&T Bank Corp lifted its position in Western Alliance Bancorporation by 7,920.9% in the fourth quarter. M&T Bank Corp now owns 315,624 shares of the financial services provider’s stock worth $26,535,000 after purchasing an additional 311,689 shares during the period. Finally, MidWestOne Financial Group Inc. lifted its position in Western Alliance Bancorporation by 42.4% in the third quarter. MidWestOne Financial Group Inc. now owns 36,559 shares of the financial services provider’s stock worth $3,170,000 after purchasing an additional 10,887 shares during the period. 79.15% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on WAL shares. UBS Group increased their price objective on Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. iA Financial set a $101.00 price objective on Western Alliance Bancorporation in a research note on Wednesday, January 28th. Piper Sandler dropped their price objective on Western Alliance Bancorporation from $94.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Weiss Ratings lowered Western Alliance Bancorporation from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 20th. Finally, DA Davidson reiterated a “buy” rating and set a $93.00 price objective on shares of Western Alliance Bancorporation in a research note on Wednesday, April 22nd. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $93.14.
Western Alliance Bancorporation Stock Performance
Shares of NYSE:WAL opened at $77.06 on Tuesday. Western Alliance Bancorporation has a twelve month low of $65.82 and a twelve month high of $97.23. The firm has a market cap of $8.37 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 0.62 and a beta of 1.37. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.80 and a current ratio of 0.85. The business has a fifty day moving average of $75.10 and a 200-day moving average of $81.78.
Western Alliance Bancorporation (NYSE:WAL – Get Free Report) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.74. Western Alliance Bancorporation had a return on equity of 13.58% and a net margin of 17.03%.The company had revenue of $968.40 million during the quarter, compared to analyst estimates of $944.18 million. During the same period last year, the company posted $1.79 earnings per share. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. On average, equities research analysts predict that Western Alliance Bancorporation will post 9.92 EPS for the current fiscal year.
Western Alliance Bancorporation Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 14th will be paid a $0.42 dividend. The ex-dividend date is Thursday, May 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.2%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 19.56%.
About Western Alliance Bancorporation
Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.
The company’s core offerings include deposit products, treasury management and a variety of lending services.
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