Cresset Asset Management LLC Sells 8,557 Shares of Western Alliance Bancorporation (NYSE:WAL)

Cresset Asset Management LLC cut its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 75.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,823 shares of the financial services provider's stock after selling 8,557 shares during the period. Cresset Asset Management LLC's holdings in Western Alliance Bancorporation were worth $236,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Western Alliance Bancorporation during the 4th quarter worth about $109,298,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Western Alliance Bancorporation by 55.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock worth $151,604,000 after purchasing an additional 648,983 shares during the period. Bank of Montreal Can boosted its stake in shares of Western Alliance Bancorporation by 973.1% during the 4th quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider's stock worth $35,239,000 after purchasing an additional 382,513 shares during the period. Global Frontier Investments LLC purchased a new position in shares of Western Alliance Bancorporation during the 4th quarter worth about $23,809,000. Finally, Invesco Ltd. boosted 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 worth $479,207,000 after purchasing an additional 278,041 shares during the period. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Down 0.9%

WAL traded down $0.68 on Friday, hitting $71.56. The company had a trading volume of 481,700 shares, compared to its average volume of 1,224,786. The stock has a fifty day moving average price of $71.62 and a 200-day moving average price of $81.78. Western Alliance Bancorporation has a 12-month low of $56.70 and a 12-month high of $98.10. 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 stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 0.63 and a beta of 1.30.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, topping the consensus estimate 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 posted $1.72 EPS. Analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 2.12%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 20.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WAL shares. Stephens reaffirmed an "overweight" rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Royal Bank of Canada lowered 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 research report on Wednesday, April 23rd. Piper Sandler boosted their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Truist Financial began coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, May 13th. They issued a "buy" rating and a $92.00 price objective for the company. Finally, Jefferies Financial Group began coverage on shares of Western Alliance Bancorporation in a research report on Wednesday. They issued a "buy" rating and a $95.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Western Alliance Bancorporation has a consensus rating of "Moderate Buy" and a consensus target price of $97.77.

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.