Rockefeller Capital Management L.P. Has $15.06 Million Holdings in Western Alliance Bancorporation (NYSE:WAL)

Rockefeller Capital Management L.P. increased its stake in Western Alliance Bancorporation (NYSE:WAL) by 926.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 174,166 shares of the financial services provider’s stock after purchasing an additional 157,199 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.16% of Western Alliance Bancorporation worth $15,064,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter worth $31,000. ORG Wealth Partners LLC acquired a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth about $33,000. ORG Partners LLC acquired a new position in shares of Western Alliance Bancorporation during the 2nd quarter worth about $36,000. UMB Bank n.a. boosted its stake in shares of Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after buying an additional 249 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Western Alliance Bancorporation by 58.4% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after buying an additional 187 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WAL shares. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their price objective for the stock from $83.00 to $101.00 in a research note on Monday, October 7th. Piper Sandler reduced their price objective on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Stephens restated an “overweight” rating and set a $102.00 price objective on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. StockNews.com downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. cut their target price on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $92.73.

Western Alliance Bancorporation Stock Up 0.1 %

Western Alliance Bancorporation stock opened at $93.61 on Monday. The stock has a market cap of $10.30 billion, a P/E ratio of 14.45, a P/E/G ratio of 1.47 and a beta of 1.44. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a twelve month low of $50.56 and a twelve month high of $98.10. The company’s 50-day moving average price is $87.69 and its two-hundred day moving average price is $76.76.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The company had revenue of $833.10 million during the quarter, compared to the consensus estimate of $811.40 million. As a group, analysts expect that Western Alliance Bancorporation will post 7.14 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 1.62%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 23.46%.

Insider Transactions at Western Alliance Bancorporation

In other news, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the transaction, the director now directly owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 42.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.75% of the company’s stock.

About Western Alliance Bancorporation

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.