GTS Securities LLC Sells 57,340 Shares of Western Alliance Bancorporation (NYSE:WAL)

GTS Securities LLC lessened its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 88.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,560 shares of the financial services provider's stock after selling 57,340 shares during the period. GTS Securities LLC's holdings in Western Alliance Bancorporation were worth $632,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of WAL. SBI Securities Co. Ltd. purchased a new stake in Western Alliance Bancorporation in the fourth quarter valued at $26,000. Smartleaf Asset Management LLC lifted its holdings 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 valued at $27,000 after acquiring an additional 117 shares in the last quarter. Fifth Third Bancorp increased its stake in Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after buying an additional 136 shares during the period. Allworth Financial LP increased its position in shares of Western Alliance Bancorporation by 115.6% in the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock worth $37,000 after purchasing an additional 215 shares during the last quarter. Finally, Atala Financial Inc bought a new stake in shares of Western Alliance Bancorporation in the 4th quarter worth about $44,000. Institutional investors and hedge funds own 79.15% of the company's stock.

Wall Street Analysts Forecast Growth

WAL has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price target 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. Wells Fargo & Company reduced their price target on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. DA Davidson reduced their price target on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Jefferies Financial Group assumed coverage on shares of Western Alliance Bancorporation in a report on Wednesday, May 21st. They issued a "buy" rating and a $95.00 price target for the company. Finally, Piper Sandler increased their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $97.77.

Western Alliance Bancorporation Trading Down 1.5%

NYSE:WAL traded down $1.08 during mid-day trading on Friday, hitting $72.40. 832,040 shares of the company's stock were exchanged, compared to its average volume of 1,229,957. The company has a 50 day simple moving average of $71.07 and a 200-day simple moving average of $81.02. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a fifty-two week low of $56.70 and a fifty-two week high of $98.10. The firm has a market capitalization of $7.99 billion, a P/E ratio of 10.20, a PEG ratio of 0.63 and a beta of 1.30.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.01. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. The firm had revenue of $790.10 million during the quarter, compared to analyst estimates of $792.25 million. During the same quarter last year, the business earned $1.72 EPS. As a group, research analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 2.10%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 20.85%.

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.