Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. cut its position in Western Alliance Bancorporation (NYSE:WAL) by 5.2% during the fourth quarter, Holdings Channel reports. The firm owned 267,190 shares of the financial services provider’s stock after selling 14,801 shares during the period. Westwood Holdings Group Inc.’s holdings in Western Alliance Bancorporation were worth $22,321,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of WAL. Norges Bank acquired a new position in shares of Western Alliance Bancorporation in the fourth quarter valued at about $109,298,000. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in 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 buying an additional 648,983 shares during the period. Janus Henderson Group PLC increased its stake 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 worth $195,616,000 after acquiring an additional 445,176 shares during the period. Bank of Montreal Can increased its stake in shares of Western Alliance Bancorporation by 973.1% in the fourth quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider’s stock worth $35,239,000 after acquiring an additional 382,513 shares during the period. Finally, Global Frontier Investments LLC acquired a new stake in shares of Western Alliance Bancorporation in the fourth quarter worth $23,809,000. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock opened at $77.34 on Tuesday. The company’s fifty day moving average price is $71.88 and its 200 day moving average price is $82.06. Western Alliance Bancorporation has a 1 year low of $56.70 and a 1 year high of $98.10. The stock has a market capitalization of $8.54 billion, a P/E ratio of 10.89, a P/E/G ratio of 0.63 and a beta of 1.30. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL) last announced its 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. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. The business had revenue of $790.10 million for the quarter, compared to analyst estimates of $792.25 million. During the same quarter last year, the business earned $1.72 earnings per share. As a group, equities research analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, May 15th. Western Alliance Bancorporation’s payout ratio is 20.85%.

Wall Street Analyst Weigh In

WAL has been the topic of a number of research reports. Truist Financial began coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, May 13th. They issued a “buy” rating and a $92.00 price objective on the stock. StockNews.com downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Monday, May 12th. Stephens reaffirmed an “overweight” rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Wells Fargo & Company dropped their price objective on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Finally, Barclays dropped their price objective on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and an average price target of $96.38.

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.