Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Compound Global Advisors LLC

Compound Global Advisors LLC lessened its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 39.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,057 shares of the financial services provider's stock after selling 5,300 shares during the quarter. Western Alliance Bancorporation makes up approximately 3.5% of Compound Global Advisors LLC's holdings, making the stock its 8th largest holding. Compound Global Advisors LLC's holdings in Western Alliance Bancorporation were worth $592,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in shares of Western Alliance Bancorporation by 56.0% during 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 during the period. Norden Group LLC acquired a new position in Western Alliance Bancorporation in the fourth quarter valued at $727,000. SBI Securities Co. Ltd. purchased a new position in Western Alliance Bancorporation during the fourth quarter worth about $26,000. Victory Capital Management Inc. lifted its position in Western Alliance Bancorporation by 66.2% during the fourth quarter. Victory Capital Management Inc. now owns 30,079 shares of the financial services provider's stock worth $2,513,000 after buying an additional 11,978 shares during the period. Finally, Atria Investments Inc boosted its stake in Western Alliance Bancorporation by 2.2% in the 4th quarter. Atria Investments Inc now owns 10,927 shares of the financial services provider's stock worth $913,000 after buying an additional 240 shares during the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Up 3.9%

Western Alliance Bancorporation stock traded up $3.12 during midday trading on Wednesday, hitting $84.15. 1,405,907 shares of the company were exchanged, compared to its average volume of 1,219,779. The company has a market cap of $9.29 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.58 and a beta of 1.29. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10. The company's fifty day moving average price is $73.82 and its 200-day moving average price is $78.33. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.88 and a quick ratio of 0.83.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its earnings results on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.01. The business 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 15.80% and a return on equity of 12.57%. During the same period in the previous year, the company posted $1.72 earnings per share. On average, research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Thursday, May 15th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.81%. Western Alliance Bancorporation's dividend payout ratio is presently 20.85%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Western Alliance Bancorporation from $91.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday. Truist Financial began 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 target on the stock. Royal Bank Of Canada lowered their price objective on shares of 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. Wall Street Zen raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, 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 price target for the company. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $96.29.

About Western Alliance Bancorporation

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.