Swiss National Bank Trims Holdings in Western Alliance Bancorporation $WAL

Swiss National Bank cut its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 202,500 shares of the financial services provider's stock after selling 3,200 shares during the quarter. Swiss National Bank owned 0.18% of Western Alliance Bancorporation worth $15,558,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in Western Alliance Bancorporation by 2.7% in the fourth 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 buying an additional 154,575 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in Western Alliance Bancorporation by 0.6% in the fourth 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 buying an additional 22,942 shares during the period. 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 valued at $195,616,000 after buying an additional 445,176 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in Western Alliance Bancorporation by 1.3% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,909,003 shares of the financial services provider's stock valued at $146,668,000 after buying an additional 25,260 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Western Alliance Bancorporation by 55.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock valued at $151,604,000 after buying an additional 648,983 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Tim R. Bruckner sold 2,500 shares of Western Alliance Bancorporation stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $83.91, for a total value of $209,775.00. Following the completion of the sale, the insider owned 24,759 shares of the company's stock, valued at approximately $2,077,527.69. This trade represents a 9.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.75% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WAL. Truist Financial lowered their target price on Western Alliance Bancorporation from $96.00 to $93.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Stephens reaffirmed an "overweight" rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Jefferies Financial Group began coverage on Western Alliance Bancorporation in a research report on Wednesday, May 21st. They set a "buy" rating and a $95.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, Wall Street Zen raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Western Alliance Bancorporation has an average rating of "Moderate Buy" and a consensus price target of $96.62.

Western Alliance Bancorporation Stock Down 0.2%

NYSE WAL traded down $0.18 on Monday, reaching $82.37. The company had a trading volume of 231,230 shares, compared to its average volume of 1,108,164. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $9.09 billion, a P/E ratio of 10.82, a P/E/G ratio of 0.57 and a beta of 1.33. The company's fifty day moving average is $79.40 and its 200 day moving average is $77.32. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its 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. Western Alliance Bancorporation had a return on equity of 12.62% and a net margin of 16.39%. The firm had revenue of $836.21 million during the quarter, compared to analyst estimates of $838.58 million. During the same period last year, the firm posted $1.75 EPS. Sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, August 14th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.52 annualized dividend and a yield of 1.8%. Western Alliance Bancorporation's dividend payout ratio (DPR) is 19.97%.

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.