Jennison Associates LLC Purchases 12,040 Shares of Western Alliance Bancorporation (NYSE:WAL)

Jennison Associates LLC raised its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 414,583 shares of the financial services provider's stock after purchasing an additional 12,040 shares during the quarter. Jennison Associates LLC owned 0.37% of Western Alliance Bancorporation worth $31,852,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Point72 Europe London LLP boosted its position in shares of Western Alliance Bancorporation by 6.6% during the 4th quarter. Point72 Europe London LLP now owns 90,643 shares of the financial services provider's stock worth $7,572,000 after acquiring an additional 5,643 shares in the last quarter. Nicholas Investment Partners LP lifted its holdings in shares of Western Alliance Bancorporation by 12.7% in the 4th quarter. Nicholas Investment Partners LP now owns 174,582 shares of the financial services provider's stock valued at $14,585,000 after purchasing an additional 19,639 shares during the last quarter. GAMMA Investing LLC grew its stake in Western Alliance Bancorporation by 53.3% during the 1st quarter. GAMMA Investing LLC now owns 2,181 shares of the financial services provider's stock worth $168,000 after buying an additional 758 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Western Alliance Bancorporation by 24.9% in the first quarter. New York State Teachers Retirement System now owns 25,387 shares of the financial services provider's stock valued at $1,950,000 after buying an additional 5,056 shares during the last quarter. Finally, Focus Partners Wealth raised its position in Western Alliance Bancorporation by 5.2% in the 4th quarter. Focus Partners Wealth now owns 99,080 shares of the financial services provider's stock valued at $8,277,000 after purchasing an additional 4,909 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WAL has been the topic of several research analyst reports. Stephens restated an "overweight" rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Barclays boosted their price target on Western Alliance Bancorporation from $97.00 to $100.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Citigroup increased their price target on shares of Western Alliance Bancorporation from $91.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. raised their target price on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Finally, Royal Bank Of Canada decreased their target price on shares of 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 and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $96.62.

Western Alliance Bancorporation Stock Up 0.7%

Shares of Western Alliance Bancorporation stock traded up $0.55 during trading on Wednesday, hitting $82.60. 273,474 shares of the stock traded hands, compared to its average volume of 1,200,391. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $98.10. The company has a fifty day moving average price of $77.09 and a two-hundred day moving average price of $78.21. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.85. The stock has a market cap of $9.12 billion, a P/E ratio of 10.88, a PEG ratio of 0.54 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.03. The firm had revenue of $836.21 million for the quarter, compared to analyst estimates of $838.58 million. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. During the same quarter in the previous year, the firm posted $1.75 EPS. Equities research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Thursday, May 15th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Thursday, May 15th. Western Alliance Bancorporation's payout ratio is presently 19.97%.

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.