Barrow Hanley Mewhinney & Strauss LLC Makes New Investment in Western Alliance Bancorporation $WAL

Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,120,791 shares of the financial services provider's stock, valued at approximately $174,329,000. Barrow Hanley Mewhinney & Strauss LLC owned about 1.94% of Western Alliance Bancorporation as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Western Alliance Bancorporation during the 2nd quarter worth approximately $26,000. Clearstead Advisors LLC grew its holdings in Western Alliance Bancorporation by 144.6% in the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider's stock worth $35,000 after purchasing an additional 243 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Western Alliance Bancorporation in the fourth quarter worth $38,000. Assetmark Inc. increased its position in shares of Western Alliance Bancorporation by 86.0% during the first quarter. Assetmark Inc. now owns 560 shares of the financial services provider's stock worth $40,000 after purchasing an additional 259 shares in the last quarter. Finally, Compound Global Advisors LLC acquired a new position in shares of Western Alliance Bancorporation during the second quarter worth $41,000. 79.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on WAL. Truist Financial boosted their target price on Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Piper Sandler raised their price target on Western Alliance Bancorporation from $92.00 to $97.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. Stifel Nicolaus set a $95.00 price target on Western Alliance Bancorporation in a research note on Thursday, July 23rd. Wells Fargo & Company upped their price objective on shares of Western Alliance Bancorporation from $79.00 to $90.00 and gave the company an "equal weight" rating in a report on Monday, August 10th. Finally, Stephens set a $95.00 price objective on shares of Western Alliance Bancorporation and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $95.47.

Insider Buying and Selling

In related news, CAO Ben Mucha sold 5,946 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $81.00, for a total transaction of $481,626.00. Following the completion of the transaction, the chief accounting officer directly owned 3,485 shares in the company, valued at approximately $282,285. This trade represents a 63.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.76% of the stock is currently owned by company insiders.

Western Alliance Bancorporation Price Performance

NYSE:WAL opened at $79.78 on Monday. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.81 and a current ratio of 0.86. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 0.77 and a beta of 1.34. The firm's fifty day moving average is $81.41 and its two-hundred day moving average is $80.15.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share for the quarter, meeting analysts' consensus estimates of $2.36. The business had revenue of $995.70 million during the quarter, compared to analyst estimates of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The company's revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted $2.07 EPS. Research analysts expect that Western Alliance Bancorporation will post 9.16 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, August 13th. Western Alliance Bancorporation's dividend payout ratio (DPR) is 18.92%.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company's core offerings include deposit products, treasury management and a variety of lending services.

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