Two Sigma Investments LP Sells 25,920 Shares of Western Alliance Bancorporation (NYSE:WAL)

Two Sigma Investments LP decreased its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 23.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 86,354 shares of the financial services provider's stock after selling 25,920 shares during the period. Two Sigma Investments LP owned about 0.08% of Western Alliance Bancorporation worth $7,214,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in WAL. Ashton Thomas Private Wealth LLC grew its holdings in Western Alliance Bancorporation by 3.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider's stock worth $260,000 after acquiring an additional 114 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Western Alliance Bancorporation by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 136 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Western Alliance Bancorporation by 1.0% during the fourth quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider's stock valued at $1,359,000 after buying an additional 163 shares during the period. Finally, CIBC Asset Management Inc increased its position in shares of Western Alliance Bancorporation by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,387 shares of the financial services provider's stock valued at $283,000 after buying an additional 167 shares during the period. 79.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WAL has been the subject of several recent research reports. Wall Street Zen raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Truist Financial started coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, May 13th. They set a "buy" rating and a $92.00 price objective on the stock. Piper Sandler upped their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. 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 for the company in a report on Wednesday, April 23rd. Finally, Barclays cut their price target 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. 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. According to MarketBeat.com, the stock 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 down $0.52 during mid-day trading on Friday, hitting $72.96. 163,167 shares of the company's stock traded hands, compared to its average volume of 1,222,903. The company has a market capitalization of $8.06 billion, a P/E ratio of 10.32, a PEG ratio of 0.63 and a beta of 1.30. Western Alliance Bancorporation has a 1 year low of $56.70 and a 1 year high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The company's 50-day moving average is $71.23 and its two-hundred day moving average is $81.25.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.01. The business had revenue of $790.10 million during the quarter, compared to analyst estimates 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 company earned $1.72 EPS. On average, equities analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, May 15th. Western Alliance Bancorporation's payout ratio is 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.