Western Alliance Bancorporation (NYSE:WAL) Stock Holdings Reduced by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. decreased its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 61.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,164 shares of the financial services provider's stock after selling 210,952 shares during the quarter. Basswood Capital Management L.L.C. owned 0.12% of Western Alliance Bancorporation worth $11,125,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in WAL. Ameriprise Financial Inc. grew its holdings in Western Alliance Bancorporation by 0.5% during the 4th quarter. Ameriprise Financial Inc. now owns 355,830 shares of the financial services provider's stock valued at $29,726,000 after purchasing an additional 1,743 shares in the last quarter. Ariel Investments LLC grew its stake in shares of Western Alliance Bancorporation by 43.1% during the fourth quarter. Ariel Investments LLC now owns 520,020 shares of the financial services provider's stock valued at $43,442,000 after acquiring an additional 156,715 shares in the last quarter. Rhino Investment Partners Inc increased its position in shares of Western Alliance Bancorporation by 13.3% during the fourth quarter. Rhino Investment Partners Inc now owns 241,676 shares of the financial services provider's stock worth $20,190,000 after acquiring an additional 28,300 shares during the last quarter. Global Frontier Investments LLC acquired a new position in shares of Western Alliance Bancorporation in the fourth quarter worth about $23,809,000. Finally, Northern Trust Corp lifted its stake in shares of Western Alliance Bancorporation by 16.1% in the fourth quarter. Northern Trust Corp now owns 912,054 shares of the financial services provider's stock worth $76,193,000 after acquiring an additional 126,158 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock traded down $0.73 during trading hours on Friday, hitting $74.22. 170,910 shares of the company traded hands, compared to its average volume of 1,212,666. The firm's 50-day simple moving average is $71.74 and its two-hundred day simple moving average is $82.33. The firm has a market cap of $8.21 billion, a P/E ratio of 10.45, a P/E/G ratio of 0.63 and a beta of 1.30. Western Alliance Bancorporation has a 1-year low of $56.70 and a 1-year high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating 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 return on equity of 13.14% and a net margin of 15.49%. During the same period last year, the firm earned $1.72 EPS. As a group, analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 2.05%. Western Alliance Bancorporation's dividend payout ratio (DPR) is 20.85%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WAL. Stephens restated an "overweight" rating and set a $92.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Royal Bank of Canada decreased their price objective on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Piper Sandler increased their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Barclays cut their price objective on 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, StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. 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, Western Alliance Bancorporation presently has an average rating of "Moderate Buy" and a consensus target price of $96.62.

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.