Barrow Hanley Mewhinney & Strauss LLC Has $151.60 Million Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 55.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,814,745 shares of the financial services provider's stock after acquiring an additional 648,983 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned approximately 1.65% of Western Alliance Bancorporation worth $151,604,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WAL. SBI Securities Co. Ltd. acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC lifted its holdings in Western Alliance Bancorporation by 56.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after buying an additional 117 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after buying an additional 136 shares in the last quarter. Allworth Financial LP boosted its position in Western Alliance Bancorporation by 115.6% in the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock valued at $37,000 after buying an additional 215 shares during the last quarter. Finally, Atala Financial Inc acquired a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 79.15% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WAL shares. Jefferies Financial Group began coverage on Western Alliance Bancorporation in a research note on Wednesday, May 21st. They set a "buy" rating and a $95.00 price target on the stock. DA Davidson cut their target price on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. 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 for the company in a research report on Wednesday, April 23rd. Wall Street Zen raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Stephens reaffirmed an "overweight" rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $97.77.

Western Alliance Bancorporation Trading Down 1.1%

NYSE:WAL traded down $0.81 during trading hours on Wednesday, hitting $73.42. The stock had a trading volume of 185,219 shares, compared to its average volume of 1,223,972. The business's 50 day moving average is $71.46 and its 200-day moving average is $81.44. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The company has a market cap of $8.11 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 0.63 and a beta of 1.30. Western Alliance Bancorporation has a one year low of $56.70 and a one year high of $98.10.

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 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 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. Sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 2.07%. Western Alliance Bancorporation's payout ratio is 20.85%.

About Western Alliance Bancorporation

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.