Nuveen Asset Management LLC Decreases Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Nuveen Asset Management LLC cut its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 583,558 shares of the financial services provider's stock after selling 73,219 shares during the period. Nuveen Asset Management LLC owned about 0.53% of Western Alliance Bancorporation worth $48,750,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WAL. Price T Rowe Associates Inc. MD lifted its holdings in Western Alliance Bancorporation by 2.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,968,526 shares of the financial services provider's stock worth $498,612,000 after buying an additional 154,575 shares during the last quarter. Invesco Ltd. increased its position in Western Alliance Bancorporation by 5.1% in the 4th quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider's stock valued at $479,207,000 after acquiring an additional 278,041 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Western Alliance Bancorporation by 0.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,577,760 shares of the financial services provider's stock valued at $298,887,000 after acquiring an additional 22,942 shares during the period. Janus Henderson Group PLC increased its position in Western Alliance Bancorporation by 23.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider's stock valued at $195,616,000 after acquiring an additional 445,176 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Western Alliance Bancorporation by 4.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider's stock valued at $157,369,000 after purchasing an additional 81,238 shares in the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on WAL. Piper Sandler boosted their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. DA Davidson reduced their target price on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Barclays reduced their target price on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Stephens reiterated an "overweight" rating and issued a $92.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company cut their price target on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Western Alliance Bancorporation has a consensus rating of "Moderate Buy" and a consensus price target of $96.38.

Western Alliance Bancorporation Trading Down 1.0%

NYSE:WAL opened at $77.34 on Tuesday. The business's 50-day moving average is $71.88 and its two-hundred day moving average is $82.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. Western Alliance Bancorporation has a 12 month low of $56.70 and a 12 month high of $98.10. The firm has a market capitalization of $8.54 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.01. The company had revenue of $790.10 million during the quarter, compared to the consensus estimate of $792.25 million. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. During the same period last year, the firm earned $1.72 earnings per share. Research analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders 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 1.97%. Western Alliance Bancorporation's dividend payout ratio is presently 20.85%.

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.

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