Western Alliance Bancorporation (NYSE:WAL) Shares Sold by GTS Securities LLC

GTS Securities LLC cut its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 88.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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.

A number of other hedge funds have also recently made changes to their positions in WAL. Point72 Europe London LLP lifted its stake in Western Alliance Bancorporation by 6.6% in the fourth quarter. Point72 Europe London LLP now owns 90,643 shares of the financial services provider's stock worth $7,572,000 after acquiring an additional 5,643 shares during the period. Nicholas Investment Partners LP lifted 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 valued at $14,585,000 after buying an additional 19,639 shares during the last quarter. Focus Partners Wealth lifted its position in shares of Western Alliance Bancorporation by 5.2% during the fourth quarter. Focus Partners Wealth now owns 99,080 shares of the financial services provider's stock valued at $8,277,000 after buying an additional 4,909 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Western Alliance Bancorporation by 9.3% during the fourth quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider's stock valued at $8,090,000 after buying an additional 8,201 shares during the last quarter. Finally, Norden Group LLC purchased a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at approximately $727,000. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL traded up $0.69 during midday trading on Thursday, reaching $73.45. 604,288 shares of the stock were exchanged, compared to its average volume of 1,224,895. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 0.63 and a beta of 1.30. Western Alliance Bancorporation has a twelve month low of $56.70 and a twelve month high of $98.10. The firm has a 50-day simple moving average of $71.37 and a two-hundred day simple moving average of $81.38. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

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, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $792.25 million. During the same quarter last year, the company earned $1.72 EPS. As a group, analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 2.07%. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 20.85%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on WAL shares. Royal Bank of Canada decreased 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 report on Wednesday, April 23rd. DA Davidson decreased their price objective on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Truist Financial started coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, May 13th. They issued a "buy" rating and a $92.00 price objective for the company. Wall Street Zen raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Barclays decreased their price objective on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $97.77.

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.