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

Two Sigma Investments LP decreased its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 23.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Europe London LLP raised its stake in Western Alliance Bancorporation by 6.6% during the 4th quarter. Point72 Europe London LLP now owns 90,643 shares of the financial services provider's stock valued at $7,572,000 after buying an additional 5,643 shares during the last quarter. Nicholas Investment Partners LP grew its holdings in shares of 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 period. Focus Partners Wealth grew its holdings in shares of 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 period. New York State Common Retirement Fund increased its position in Western Alliance Bancorporation by 9.3% during the fourth quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider's stock valued at $8,090,000 after acquiring an additional 8,201 shares during the last quarter. Finally, Norden Group LLC purchased a new stake in Western Alliance Bancorporation during the fourth quarter valued at $727,000. Institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Price Performance

NYSE:WAL traded up $0.33 during trading hours on Thursday, hitting $73.09. 230,812 shares of the stock traded hands, compared to its average volume of 1,203,578. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth 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 stock has a 50 day moving average price of $71.37 and a 200 day moving average price of $81.38. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released 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 company 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 15.49% and a return on equity of 13.14%. During the same quarter in the previous year, the company earned $1.72 EPS. Sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be given a $0.38 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 2.08%. Western Alliance Bancorporation's payout ratio is 20.85%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WAL shares. DA Davidson dropped their target price on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Jefferies Financial Group assumed coverage on shares of Western Alliance Bancorporation in a research note on Wednesday, May 21st. They issued a "buy" rating and a $95.00 price objective on the stock. Stephens reissued an "overweight" rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Royal Bank of Canada reduced 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, Truist Financial assumed coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, May 13th. They issued a "buy" rating and a $92.00 price target on the stock. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.77.

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.