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

Compound Global Advisors LLC cut its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 39.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,057 shares of the financial services provider's stock after selling 5,300 shares during the period. Western Alliance Bancorporation accounts for about 3.5% of Compound Global Advisors LLC's investment portfolio, making the stock its 8th biggest holding. Compound Global Advisors LLC's holdings in Western Alliance Bancorporation were worth $592,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position in shares of Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock valued at $27,000 after buying an additional 117 shares during the last quarter. Norden Group LLC acquired a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at approximately $727,000. SBI Securities Co. Ltd. acquired a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at approximately $26,000. Victory Capital Management Inc. lifted its position in shares of Western Alliance Bancorporation by 66.2% in the fourth quarter. Victory Capital Management Inc. now owns 30,079 shares of the financial services provider's stock valued at $2,513,000 after buying an additional 11,978 shares during the last quarter. Finally, Atria Investments Inc lifted its position in shares of Western Alliance Bancorporation by 2.2% in the fourth quarter. Atria Investments Inc now owns 10,927 shares of the financial services provider's stock valued at $913,000 after buying an additional 240 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Price Performance

NYSE WAL traded up $0.98 during midday trading on Friday, hitting $85.16. The company had a trading volume of 778,278 shares, compared to its average volume of 1,222,922. The company has a market capitalization of $9.40 billion, a PE ratio of 11.68, a P/E/G ratio of 0.64 and a beta of 1.29. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $74.73 and a 200-day moving average price of $78.27. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.01. The firm had revenue of $790.10 million during the quarter, compared to analysts' expectations of $792.25 million. Western Alliance Bancorporation had a return on equity of 12.57% and a net margin of 15.80%. During the same period in the previous year, the firm earned $1.72 EPS. As a group, analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were issued a $0.38 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 1.78%. Western Alliance Bancorporation's dividend payout ratio is presently 20.85%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WAL shares. Wall Street Zen raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Citigroup raised their price objective on Western Alliance Bancorporation from $91.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday. DA Davidson dropped their price target on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price target on Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, Barclays dropped their price target on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Western Alliance Bancorporation presently has an average rating of "Moderate Buy" and an average price target of $96.29.

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.