Western Alliance Bancorporation (NYSE:WAL) Shares Acquired by Driehaus Capital Management LLC

Driehaus Capital Management LLC increased its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 685,010 shares of the financial services provider's stock after buying an additional 33,195 shares during the quarter. Driehaus Capital Management LLC owned about 0.62% of Western Alliance Bancorporation worth $57,226,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of WAL. Price T Rowe Associates Inc. MD raised its holdings in shares of Western Alliance Bancorporation by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,968,526 shares of the financial services provider's stock worth $498,612,000 after purchasing an additional 154,575 shares during the last quarter. Invesco Ltd. raised its stake in shares of Western Alliance Bancorporation by 5.1% during the 4th quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider's stock valued at $479,207,000 after buying an additional 278,041 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Western Alliance Bancorporation by 0.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,577,760 shares of the financial services provider's stock valued at $298,887,000 after buying an additional 22,942 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Western Alliance Bancorporation by 4.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider's stock worth $157,369,000 after buying an additional 81,238 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Western Alliance Bancorporation by 55.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock worth $151,604,000 after acquiring an additional 648,983 shares during the period. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Price Performance

WAL stock traded down $0.51 during midday trading on Friday, reaching $74.44. The stock had a trading volume of 446,405 shares, compared to its average volume of 1,217,631. Western Alliance Bancorporation has a 52-week low of $56.70 and a 52-week high of $98.10. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The company's fifty day simple moving average is $71.61 and its 200 day simple moving average is $82.27. The company has a market cap of $8.22 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 (NYSE:WAL - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.01. The firm had revenue of $790.10 million for the quarter, compared to the consensus estimate 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 period last year, the firm posted $1.72 earnings per share. As a group, sell-side analysts predict 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 declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a $0.38 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 2.04%. Western Alliance Bancorporation's dividend payout ratio is presently 20.85%.

Wall Street Analysts Forecast Growth

Several research firms have commented on WAL. Stephens restated an "overweight" rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Royal Bank of Canada lowered their price target 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. Piper Sandler lifted their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Barclays lowered their target price 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, Wells Fargo & Company reduced their price target on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $96.62.

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.