UBS Group AG Lowers Stock Position in Western Alliance Bancorporation $WAL

Key Points

• UBS Group AG cut its Western Alliance Bancorporation stake by 38.4% in the fourth quarter, selling 212,827 shares and ending with 341,359 shares valued at about $28.7 million.
• Western Alliance posted stronger-than-expected quarterly results, reporting EPS of $2.22 versus the $1.48 consensus and revenue of $968.4 million, up 31% year over year.
• The company also announced a quarterly dividend of $0.42 per share, equal to an annualized yield of 2.1%, while analysts currently rate the stock a “Moderate Buy” with a consensus target price of $93.14.

UBS Group AG lessened its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 38.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 341,359 shares of the financial services provider's stock after selling 212,827 shares during the quarter. UBS Group AG owned 0.31% of Western Alliance Bancorporation worth $28,698,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Quent Capital LLC purchased a new position in Western Alliance Bancorporation during the third quarter worth about $26,000. Root Financial Partners LLC purchased a new position in Western Alliance Bancorporation during the third quarter worth about $27,000. Community Bank N.A. purchased a new position in Western Alliance Bancorporation during the third quarter worth about $37,000. Smartleaf Asset Management LLC boosted its stake in Western Alliance Bancorporation by 113.0% during the third quarter. Smartleaf Asset Management LLC now owns 443 shares of the financial services provider's stock worth $39,000 after buying an additional 235 shares during the period. Finally, V Square Quantitative Management LLC purchased a new position in Western Alliance Bancorporation during the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Trading Down 0.6%

Shares of WAL stock opened at $81.80 on Friday. Western Alliance Bancorporation has a fifty-two week low of $65.82 and a fifty-two week high of $97.23. The company has a 50 day moving average price of $75.50 and a 200 day moving average price of $81.73. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.80 and a current ratio of 0.85. The stock has a market capitalization of $8.89 billion, a P/E ratio of 9.52, a price-to-earnings-growth ratio of 0.62 and a beta of 1.37.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.48 by $0.74. Western Alliance Bancorporation had a net margin of 17.03% and a return on equity of 13.58%. The company had revenue of $968.40 million during the quarter, compared to the consensus estimate of $944.18 million. During the same quarter in the previous year, the firm earned $1.79 earnings per share. The firm's quarterly revenue was up 31.0% on a year-over-year basis. Equities research analysts predict that Western Alliance Bancorporation will post 9.92 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 14th will be paid a $0.42 dividend. The ex-dividend date is Thursday, May 14th. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. Western Alliance Bancorporation's payout ratio is currently 19.56%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. iA Financial set a $101.00 target price on shares of Western Alliance Bancorporation in a research note on Wednesday, January 28th. UBS Group lifted their price objective on shares of Western Alliance Bancorporation from $75.00 to $80.00 and gave the company a "neutral" rating in a report on Monday, April 27th. Jefferies Financial Group restated an "overweight" rating and issued a $105.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, March 6th. DA Davidson restated a "buy" rating and issued a $93.00 price objective on shares of Western Alliance Bancorporation in a report on Wednesday, April 22nd. Finally, Wells Fargo & Company upgraded shares of Western Alliance Bancorporation from an "underweight" rating to an "equal weight" rating and dropped their price objective for the company from $83.00 to $79.00 in a report on Monday, March 9th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.14.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company's core offerings include deposit products, treasury management and a variety of lending services.

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