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

Algert Global LLC reduced 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 disclosure with the Securities & Exchange Commission. The institutional investor owned 96,023 shares of the financial services provider's stock after selling 96,382 shares during the quarter. Algert Global LLC owned about 0.09% of Western Alliance Bancorporation worth $8,022,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Ashton Thomas Private Wealth LLC lifted its stake in shares of Western Alliance Bancorporation by 3.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider's stock worth $260,000 after acquiring an additional 114 shares during the period. Smartleaf Asset Management LLC raised its holdings in Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp lifted its position 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 period. Versant Capital Management Inc boosted its stake in Western Alliance Bancorporation by 13.4% during the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider's stock valued at $111,000 after purchasing an additional 157 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Western Alliance Bancorporation by 1.0% during the 4th quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider's stock valued at $1,359,000 after purchasing an additional 163 shares during the period. Institutional investors and hedge funds own 79.15% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on WAL. DA Davidson decreased their target price on 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. Stephens restated an "overweight" rating and set a $92.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Royal Bank of Canada dropped their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Barclays reduced 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. Finally, Piper Sandler upped their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Two research 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 has a consensus rating of "Moderate Buy" and an average price target of $96.62.

Western Alliance Bancorporation Stock Up 0.4 %

WAL traded up $0.31 during trading on Wednesday, reaching $71.44. 624,833 shares of the stock traded hands, compared to its average volume of 1,214,898. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. Western Alliance Bancorporation has a fifty-two week low of $56.70 and a fifty-two week high of $98.10. The stock's 50-day simple moving average is $71.93 and its two-hundred day simple moving average is $82.36. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30.

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 EPS for the quarter, beating the consensus estimate of $1.78 by $0.01. The business had revenue of $790.10 million during 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 quarter in the previous year, the business posted $1.72 EPS. As a group, equities research analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.13%. Western Alliance Bancorporation's dividend payout ratio is currently 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.