Stratos Wealth Partners LTD. Sells 8,044 Shares of Western Alliance Bancorporation (NYSE:WAL)

Stratos Wealth Partners LTD. lessened its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 60.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,226 shares of the financial services provider's stock after selling 8,044 shares during the period. Stratos Wealth Partners LTD.'s holdings in Western Alliance Bancorporation were worth $402,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Western Alliance Bancorporation by 2.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,968,526 shares of the financial services provider's stock valued at $498,612,000 after purchasing an additional 154,575 shares during the last quarter. Invesco Ltd. lifted its stake in shares of 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 purchasing an additional 278,041 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Western Alliance Bancorporation by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,577,760 shares of the financial services provider's stock worth $298,887,000 after acquiring an additional 22,942 shares during the last quarter. Janus Henderson Group PLC lifted its position in Western Alliance Bancorporation by 23.5% during the 4th 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, Vaughan Nelson Investment Management L.P. lifted its position in Western Alliance Bancorporation by 1.3% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,909,003 shares of the financial services provider's stock worth $146,668,000 after acquiring an additional 25,260 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Analyst Ratings Changes

WAL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Royal Bank Of Canada cut 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 report on Wednesday, April 23rd. Stephens reissued an "overweight" rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Citigroup boosted their target price on shares of Western Alliance Bancorporation from $91.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, DA Davidson cut their target price 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. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, Western Alliance Bancorporation presently has an average rating of "Moderate Buy" and an average price target of $97.50.

Western Alliance Bancorporation Stock Performance

Shares of WAL traded up $1.35 during trading hours on Wednesday, reaching $82.34. 917,316 shares of the company traded hands, compared to its average volume of 1,209,685. The stock's fifty day moving average is $76.75 and its 200 day moving average is $78.29. The stock has a market cap of $9.09 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 0.58 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. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 15.80% and a return on equity of 12.57%. During the same quarter in the previous year, the firm posted $1.72 earnings per share. Equities research analysts anticipate 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 was paid on Friday, May 30th. Investors of record on Thursday, May 15th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.85%. Western Alliance Bancorporation's payout ratio is currently 20.85%.

Western Alliance Bancorporation Company 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.