Western Alliance Bancorporation (NYSE:WAL) Shares Sold by 140 Summer Partners LP

140 Summer Partners LP decreased its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 87.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 119,845 shares of the financial services provider's stock after selling 798,711 shares during the period. Western Alliance Bancorporation makes up approximately 1.2% of 140 Summer Partners LP's investment portfolio, making the stock its 16th largest position. 140 Summer Partners LP owned about 0.11% of Western Alliance Bancorporation worth $10,012,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in WAL. Barclays PLC grew its holdings in Western Alliance Bancorporation by 2.9% in the 3rd quarter. Barclays PLC now owns 123,412 shares of the financial services provider's stock valued at $10,674,000 after buying an additional 3,421 shares in the last quarter. Franklin Resources Inc. increased its position in Western Alliance Bancorporation by 17.0% during the third quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider's stock worth $27,970,000 after purchasing an additional 45,764 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new position in Western Alliance Bancorporation during the third quarter worth about $639,000. Retirement Systems of Alabama acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at about $11,461,000. Finally, Principal Financial Group Inc. grew its stake in shares of Western Alliance Bancorporation by 6,342.7% in the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider's stock valued at $44,522,000 after buying an additional 506,778 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WAL. JPMorgan Chase & Co. decreased their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Stephens reaffirmed an "overweight" rating and issued a $92.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Piper Sandler lifted their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Wells Fargo & Company decreased 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 report on Wednesday, April 9th. Finally, Barclays dropped their target price 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. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Western Alliance Bancorporation presently has a consensus rating of "Moderate Buy" and an average target price of $96.62.

Western Alliance Bancorporation Stock Up 1.6 %

NYSE:WAL traded up $1.11 during midday trading on Wednesday, reaching $72.24. The company had a trading volume of 136,056 shares, compared to its average volume of 1,210,461. The stock's fifty day simple moving average is $72.24 and its 200-day simple moving average is $82.44. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 12-month low of $56.70 and a 12-month high of $98.10. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 0.63 and a beta of 1.30.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.01. The business had revenue of $790.10 million during the quarter, compared to the consensus estimate of $792.25 million. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. During the same period in the previous year, the company posted $1.72 earnings per share. 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 Announces Dividend

The company also recently disclosed 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 2.10%. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 20.85%.

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.