Algert Global LLC Has $8.02 Million Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Algert Global LLC decreased its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 50.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 96,023 shares of the financial services provider's stock after selling 96,382 shares during the period. Algert Global LLC owned 0.09% of Western Alliance Bancorporation worth $8,022,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Western Alliance Bancorporation during the fourth quarter valued at approximately $109,298,000. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Western Alliance Bancorporation by 55.7% during 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. Principal Financial Group Inc. grew its stake in 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 last quarter. Bank of Montreal Can raised its holdings in Western Alliance Bancorporation by 973.1% in the 4th 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 position in Western Alliance Bancorporation during the 4th quarter worth $23,809,000. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Price Performance

WAL traded down $0.51 during midday trading on Friday, reaching $74.44. 446,405 shares of the company's stock were exchanged, compared to its average volume of 1,217,631. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The business has a 50-day simple moving average of $71.61 and a two-hundred day simple moving average of $82.27. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30. Western Alliance Bancorporation has a one year low of $56.70 and a one year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.01. The firm had revenue of $790.10 million for the quarter, compared to analysts' expectations 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 prior year, the business posted $1.72 earnings per share. As a group, research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 2.04%. Western Alliance Bancorporation's dividend payout ratio is currently 20.85%.

Analyst Ratings Changes

A number of research firms have recently commented on WAL. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Wells Fargo & Company dropped their price target 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. Stephens reiterated an "overweight" rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Barclays lowered 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. Finally, DA Davidson cut their target price on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Western Alliance Bancorporation presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.62.

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.