WCM Investment Management LLC Has $16.95 Million Position in Western Alliance Bancorporation (NYSE:WAL)

WCM Investment Management LLC cut its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 16.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 222,693 shares of the financial services provider's stock after selling 42,825 shares during the period. WCM Investment Management LLC owned about 0.20% of Western Alliance Bancorporation worth $16,951,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Western Alliance Bancorporation by 2.7% during the fourth 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 purchasing an additional 154,575 shares during the last quarter. Invesco Ltd. boosted its position in Western Alliance Bancorporation by 5.1% in the 4th quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider's stock valued at $479,207,000 after buying an additional 278,041 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in 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 valued at $298,887,000 after buying an additional 22,942 shares during the last quarter. Janus Henderson Group PLC increased its stake 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 valued at $195,616,000 after buying an additional 445,176 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Western Alliance Bancorporation by 1.3% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,909,003 shares of the financial services provider's stock worth $146,668,000 after acquiring an additional 25,260 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WAL has been the subject of a number of research reports. Stephens reiterated an "overweight" rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Jefferies Financial Group started coverage on shares of Western Alliance Bancorporation in a research note on Wednesday, May 21st. They issued a "buy" rating and a $95.00 target price on the stock. Barclays dropped their price target on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. raised their price objective on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Wall Street Zen raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $96.29.

Western Alliance Bancorporation Trading Up 3.9%

Shares of NYSE WAL traded up $3.12 during midday trading on Wednesday, reaching $84.15. 1,405,907 shares of the stock were exchanged, compared to its average volume of 1,219,779. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $98.10. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 0.58 and a beta of 1.29. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.88 and a quick ratio of 0.83. The business has a 50-day simple moving average of $73.82 and a two-hundred day simple moving average of $78.33.

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 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.01. The company had revenue of $790.10 million for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $1.72 earnings per share. As a group, equities research analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were issued 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 dividend yield of 1.81%. Western Alliance Bancorporation's payout ratio is 20.85%.

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.