Alyeska Investment Group L.P. Sells 317,107 Shares of Western Alliance Bancorporation (NYSE:WAL)

Alyeska Investment Group L.P. cut its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 98.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,534 shares of the financial services provider's stock after selling 317,107 shares during the quarter. Alyeska Investment Group L.P.'s holdings in Western Alliance Bancorporation were worth $295,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Barclays PLC lifted its position 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 acquiring an additional 3,421 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of 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 valued at $27,970,000 after purchasing an additional 45,764 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Western Alliance Bancorporation by 6,342.7% during the third 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. JPMorgan Chase & Co. increased its holdings in Western Alliance Bancorporation by 49.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 191,188 shares of the financial services provider's stock worth $16,536,000 after buying an additional 63,283 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Western Alliance Bancorporation by 25.5% in the 4th quarter. GAMMA Investing LLC now owns 1,423 shares of the financial services provider's stock worth $119,000 after buying an additional 289 shares during the last quarter. Institutional investors own 79.15% of the company's stock.

Analysts Set New Price Targets

WAL has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price target on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Stephens reiterated an "overweight" rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Royal Bank of Canada reduced their price objective on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Finally, Piper Sandler raised their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $96.62.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL traded up $4.86 during mid-day trading on Monday, reaching $79.33. The company's stock had a trading volume of 512,955 shares, compared to its average volume of 1,214,921. 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 52 week low of $56.70 and a 52 week high of $98.10. The stock has a fifty day moving average of $71.61 and a two-hundred day moving average of $82.26. The firm has a market capitalization of $8.76 billion, a PE ratio of 11.17, a P/E/G 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $792.25 million. During the same period last year, the firm posted $1.72 EPS. As a group, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, May 15th. Western Alliance Bancorporation's 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.