UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 7.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 312,253 shares of the financial services provider's stock after acquiring an additional 21,079 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.28% of Western Alliance Bancorporation worth $26,086,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Point72 Europe London LLP lifted its holdings in Western Alliance Bancorporation by 6.6% during the fourth quarter. Point72 Europe London LLP now owns 90,643 shares of the financial services provider's stock worth $7,572,000 after buying an additional 5,643 shares during the period. Nicholas Investment Partners LP increased its position in shares of Western Alliance Bancorporation by 12.7% during the fourth quarter. Nicholas Investment Partners LP now owns 174,582 shares of the financial services provider's stock worth $14,585,000 after purchasing an additional 19,639 shares in the last quarter. Focus Partners Wealth increased its position in shares of Western Alliance Bancorporation by 5.2% in the 4th quarter. Focus Partners Wealth now owns 99,080 shares of the financial services provider's stock valued at $8,277,000 after acquiring an additional 4,909 shares during the period. New York State Common Retirement Fund raised its stake in Western Alliance Bancorporation by 9.3% in the 4th quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider's stock worth $8,090,000 after acquiring an additional 8,201 shares during the last quarter. Finally, Norden Group LLC purchased a new position in Western Alliance Bancorporation in the 4th quarter worth $727,000. 79.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WAL shares. Royal Bank of Canada reduced their target price on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Truist Financial started coverage on Western Alliance Bancorporation in a research note on Tuesday, May 13th. They issued a "buy" rating and a $92.00 target price for the company. Barclays reduced their target price on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Piper Sandler raised their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, Stephens reiterated an "overweight" rating and set a $92.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $97.77.

Western Alliance Bancorporation Trading Down 1.5%

Shares of WAL stock traded down $1.08 during trading on Friday, hitting $72.40. 832,040 shares of the stock traded hands, compared to its average volume of 1,229,957. The firm has a market capitalization of $7.99 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30. 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 firm's fifty day moving average price is $71.07 and its 200-day moving average price is $80.95. Western Alliance Bancorporation has a 52-week low of $56.70 and a 52-week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) 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 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 quarter in the previous year, the company earned $1.72 earnings per share. As a group, research analysts forecast 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 announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was 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.