Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Nuveen Asset Management LLC

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 filing 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 approximately 0.53% of Western Alliance Bancorporation worth $48,750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new position in Western Alliance Bancorporation in the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC increased its stake 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 valued at $27,000 after purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after purchasing an additional 136 shares during the last quarter. Allworth Financial LP boosted its stake 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 valued at $37,000 after acquiring an additional 215 shares during the last quarter. Finally, Atala Financial Inc bought a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at approximately $44,000. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Performance

Western Alliance Bancorporation stock traded down $0.68 on Friday, hitting $71.56. The company's stock had a trading volume of 481,700 shares, compared to its average volume of 1,227,333. Western Alliance Bancorporation has a one year low of $56.70 and a one year high of $98.10. The company has a fifty day moving average price of $71.62 and a 200-day moving average price of $81.62. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The firm has a market cap of $7.90 billion, a P/E ratio of 10.08, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.01. The firm had revenue of $790.10 million during the quarter, compared to analysts' expectations 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 period in the previous year, the business posted $1.72 earnings per share. On average, equities analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current 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 given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio is presently 20.85%.

Analyst Ratings Changes

Several brokerages have weighed in on WAL. Stephens reissued an "overweight" rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Royal Bank of Canada lowered their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial began coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, May 13th. They set a "buy" rating and a $92.00 target price on the stock. Barclays lowered their price target on shares of 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. Finally, Jefferies Financial Group began coverage on shares of Western Alliance Bancorporation in a research report on Wednesday. They set a "buy" rating and a $95.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently 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.