140 Summer Partners LP Trims Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

140 Summer Partners LP lessened its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 87.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 119,845 shares of the financial services provider's stock after selling 798,711 shares during the period. Western Alliance Bancorporation comprises approximately 1.2% of 140 Summer Partners LP's investment portfolio, making the stock its 16th biggest holding. 140 Summer Partners LP owned approximately 0.11% of Western Alliance Bancorporation worth $10,012,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Western Alliance Bancorporation during the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC boosted its stake in Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 117 shares in the last quarter. Fifth Third Bancorp grew its holdings in Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after purchasing an additional 136 shares during the last quarter. Allworth Financial LP increased its position in shares of Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock worth $37,000 after purchasing an additional 215 shares in the last quarter. Finally, Atala Financial Inc purchased a new stake in shares of Western Alliance Bancorporation during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 79.15% of the company's stock.

Analyst Upgrades and Downgrades

WAL has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Barclays decreased their price target on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Stephens reissued an "overweight" rating and set a $92.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Piper Sandler boosted their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $96.62.

Western Alliance Bancorporation Price Performance

NYSE:WAL traded down $0.75 during trading hours on Monday, reaching $72.08. 971,962 shares of the company were exchanged, compared to its average volume of 1,216,603. Western Alliance Bancorporation has a twelve month low of $56.70 and a twelve month high of $98.10. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The stock's 50-day moving average is $72.81 and its 200-day moving average is $82.61. The firm has a market cap of $7.97 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.01. The company had revenue of $790.10 million for the quarter, compared to analysts' expectations 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 company posted $1.72 EPS. On average, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders 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 annualized dividend and a dividend yield of 2.11%. Western Alliance Bancorporation's payout ratio is 20.85%.

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.