Generate Investment Management Ltd Sells 126,144 Shares of Western Alliance Bancorporation (NYSE:WAL)

Generate Investment Management Ltd cut its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 30.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 290,931 shares of the financial services provider's stock after selling 126,144 shares during the quarter. Western Alliance Bancorporation comprises 1.6% of Generate Investment Management Ltd's investment portfolio, making the stock its 18th biggest holding. Generate Investment Management Ltd owned approximately 0.26% of Western Alliance Bancorporation worth $22,352,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WAL. HWG Holdings LP purchased a new position in Western Alliance Bancorporation during the first quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new position in Western Alliance Bancorporation during the fourth quarter valued at $26,000. Smartleaf Asset Management LLC raised its stake in Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock valued at $27,000 after buying an additional 117 shares during the last quarter. Allworth Financial LP raised its stake in Western Alliance Bancorporation by 115.6% during the fourth 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 purchased a new position in Western Alliance Bancorporation during the fourth quarter valued at $44,000. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Up 0.1%

Shares of WAL stock traded up $0.04 during mid-day trading on Friday, hitting $77.72. The company's stock had a trading volume of 1,283,225 shares, compared to its average volume of 1,218,175. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $98.10. The business has a 50-day moving average price of $73.25 and a 200 day moving average price of $78.56. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.83 and a current ratio of 0.88. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 0.58 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued 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. Western Alliance Bancorporation had a return on equity of 12.57% and a net margin of 15.80%. The company had revenue of $790.10 million during the quarter, compared to analyst estimates of $792.25 million. During the same quarter in the previous year, the company posted $1.72 earnings per share. Research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Thursday, May 15th. Western Alliance Bancorporation's payout ratio is currently 20.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WAL. Barclays lowered their price objective on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Royal Bank Of Canada lowered their price objective on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. DA Davidson lowered their price objective on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Jefferies Financial Group started coverage on Western Alliance Bancorporation in a research note on Wednesday, May 21st. They set 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $97.77.

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.