Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. trimmed its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 61.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 133,164 shares of the financial services provider’s stock after selling 210,952 shares during the period. Basswood Capital Management L.L.C.’s holdings in Western Alliance Bancorporation were worth $11,125,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in Western Alliance Bancorporation by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,968,526 shares of the financial services provider’s stock valued at $498,612,000 after purchasing an additional 154,575 shares during the period. Invesco Ltd. lifted its holdings in shares of Western Alliance Bancorporation by 5.1% in the 4th quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider’s stock valued at $479,207,000 after buying an additional 278,041 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of Western Alliance Bancorporation by 0.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,577,760 shares of the financial services provider’s stock worth $298,887,000 after buying an additional 22,942 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Western Alliance Bancorporation by 4.5% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider’s stock worth $157,369,000 after acquiring an additional 81,238 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in Western Alliance Bancorporation by 55.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider’s stock valued at $151,604,000 after acquiring an additional 648,983 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Trading Up 2.5 %

Shares of WAL opened at $72.78 on Friday. The firm’s fifty day moving average is $72.81 and its two-hundred day moving average is $82.69. The stock has a market cap of $8.05 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. 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 52-week low of $56.70 and a 52-week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data 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. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. The company had revenue of $790.10 million during the quarter, compared to analysts’ expectations of $792.25 million. During the same quarter in the prior year, the company earned $1.72 EPS. Research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 2.09%. Western Alliance Bancorporation’s payout ratio is 20.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JPMorgan Chase & Co. lowered their price objective 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. Barclays dropped their price target on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Piper Sandler upped their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Stephens restated an “overweight” rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Finally, Royal Bank of Canada cut their price target on Western Alliance Bancorporation from $105.00 to $85.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and an average target price of $96.62.

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.