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

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Western Alliance Bancorporation in the fourth quarter worth $26,000. HWG Holdings LP bought a new position in Western Alliance Bancorporation in the first quarter worth $25,000. Smartleaf Asset Management LLC lifted its position in Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after purchasing an additional 117 shares during the period. Allworth Financial LP lifted its position in Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock worth $37,000 after purchasing an additional 215 shares during the period. Finally, Atala Financial Inc bought a new position in Western Alliance Bancorporation in the fourth quarter worth $44,000. 79.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on WAL shares. Barclays reduced their target price on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Stephens reiterated an "overweight" rating and set a $92.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Wells Fargo & Company dropped their price objective on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. DA Davidson dropped 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, Royal Bank Of Canada dropped 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. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $97.77.

Western Alliance Bancorporation Stock Performance

Shares of NYSE:WAL opened at $75.97 on Wednesday. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $98.10. The firm has a market cap of $8.39 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 0.56 and a beta of 1.29. 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 business has a fifty day moving average of $72.58 and a 200-day moving average of $78.76.

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 (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.01. The business had revenue of $790.10 million for the quarter, compared to analysts' expectations of $792.25 million. Western Alliance Bancorporation had a return on equity of 12.57% and a net margin of 15.80%. During the same quarter last year, the business earned $1.72 earnings per share. On average, equities research 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 declared 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 yield of 2.00%. The ex-dividend date of this dividend was Thursday, May 15th. Western Alliance Bancorporation's dividend 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.

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