Western Alliance Bancorporation (NYSE:WAL) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 46.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,103 shares of the financial services provider's stock after selling 4,407 shares during the quarter. ProShare Advisors LLC's holdings in Western Alliance Bancorporation were worth $426,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Quantinno Capital Management LP lifted its holdings in shares of Western Alliance Bancorporation by 15.2% in the 4th quarter. Quantinno Capital Management LP now owns 36,616 shares of the financial services provider's stock worth $3,059,000 after acquiring an additional 4,844 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of Western Alliance Bancorporation in the 4th quarter worth approximately $1,209,000. Nicholas Investment Partners LP lifted its stake in Western Alliance Bancorporation by 12.7% in the fourth quarter. Nicholas Investment Partners LP now owns 174,582 shares of the financial services provider's stock worth $14,585,000 after acquiring an additional 19,639 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Western Alliance Bancorporation by 23.5% in the fourth quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider's stock worth $195,616,000 after acquiring an additional 445,176 shares during the last quarter. Finally, Focus Partners Wealth lifted its stake in Western Alliance Bancorporation by 5.2% in the fourth quarter. Focus Partners Wealth now owns 99,080 shares of the financial services provider's stock worth $8,277,000 after acquiring an additional 4,909 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Truist Financial began coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, May 13th. They issued a "buy" rating and a $92.00 price target for the company. DA Davidson reduced their price objective on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Barclays reduced their price objective 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, Royal Bank of Canada reduced their price target on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Two investment 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $97.77.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL traded up $0.69 on Thursday, reaching $73.45. 604,288 shares of the company were exchanged, compared to its average volume of 1,227,097. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 1-year low of $56.70 and a 1-year high of $98.10. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 10.35, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30. The company has a 50-day moving average of $71.37 and a 200-day moving average of $81.38.

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 for the quarter, topping analysts' consensus estimates of $1.78 by $0.01. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. The business had revenue of $790.10 million for the quarter, compared to analysts' expectations of $792.25 million. During the same period in the prior year, the company posted $1.72 EPS. Equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 2.07%. Western Alliance Bancorporation's payout ratio is 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.