CANADA LIFE ASSURANCE Co Sells 9,245 Shares of Western Alliance Bancorporation (NYSE:WAL)

CANADA LIFE ASSURANCE Co lowered its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,387 shares of the financial services provider's stock after selling 9,245 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.09% of Western Alliance Bancorporation worth $8,052,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of WAL. Retirement Systems of Alabama acquired a new stake in shares of Western Alliance Bancorporation during the 3rd quarter valued at about $11,461,000. Franklin Resources Inc. boosted its holdings 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 valued at $27,970,000 after purchasing an additional 45,764 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Western Alliance Bancorporation by 9.3% in the 4th quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider's stock valued at $8,090,000 after purchasing an additional 8,201 shares during the period. Norden Group LLC acquired a new position in shares of Western Alliance Bancorporation in the 4th quarter worth approximately $727,000. Finally, Generate Investment Management Ltd lifted its position in shares of Western Alliance Bancorporation by 0.7% during the 4th quarter. Generate Investment Management Ltd now owns 417,075 shares of the financial services provider's stock worth $34,842,000 after buying an additional 2,772 shares during the period. Institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Trading Up 1.0 %

Shares of NYSE WAL traded up $0.71 during mid-day trading on Monday, hitting $70.41. The company's stock had a trading volume of 716,648 shares, compared to its average volume of 1,217,545. Western Alliance Bancorporation has a one year low of $56.70 and a one year high of $98.10. The company's fifty day simple moving average is $74.09 and its 200-day simple moving average is $83.18. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 9.92, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its earnings results 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 firm had revenue of $790.10 million during the quarter, compared to analyst estimates of $792.25 million. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. During the same quarter in the previous year, the business earned $1.72 EPS. 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 business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's payout ratio is 20.85%.

Analyst Ratings Changes

Several equities analysts recently issued reports on WAL shares. DA Davidson cut their price target on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. StockNews.com upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Royal Bank of Canada decreased their price target on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Finally, Piper Sandler increased their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.