Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Jackson Square Capital LLC

Jackson Square Capital LLC cut its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 52.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,668 shares of the financial services provider's stock after selling 17,446 shares during the period. Jackson Square Capital LLC's holdings in Western Alliance Bancorporation were worth $1,204,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its stake in Western Alliance Bancorporation by 2.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,968,526 shares of the financial services provider's stock valued at $498,612,000 after acquiring an additional 154,575 shares during the last quarter. Invesco Ltd. increased its position in Western Alliance Bancorporation by 5.1% during the 4th quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider's stock worth $479,207,000 after purchasing an additional 278,041 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in shares of Western Alliance Bancorporation by 0.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,577,760 shares of the financial services provider's stock worth $298,887,000 after acquiring an additional 22,942 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Western Alliance Bancorporation by 23.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider's stock worth $195,616,000 after acquiring an additional 445,176 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Western Alliance Bancorporation by 55.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock worth $151,604,000 after acquiring an additional 648,983 shares during the period. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Down 3.5%

NYSE WAL traded down $2.57 during trading hours on Friday, hitting $71.22. The company had a trading volume of 615,675 shares, compared to its average volume of 1,217,340. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 10.03, a P/E/G ratio of 0.63 and a beta of 1.29. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The firm's 50 day moving average is $71.42 and its 200 day moving average is $79.83.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) 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 the consensus estimate of $792.25 million. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. During the same period in the prior year, the firm earned $1.72 EPS. Sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

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 2.13%. Western Alliance Bancorporation's dividend payout ratio is presently 20.85%.

Analysts Set New Price Targets

A number of research firms recently issued reports on WAL. Wells Fargo & Company reduced their target price on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Truist Financial began coverage on Western Alliance Bancorporation in a research note on Tuesday, May 13th. They issued a "buy" rating and a $92.00 target price on the stock. Barclays reduced their target price on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Royal Bank of Canada reduced their price target on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.77.

Western Alliance Bancorporation 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.