Dimensional Fund Advisors LP Cuts Stock Position in Western Alliance Bancorporation $WAL

Key Points

• Dimensional Fund Advisors LP reduced its stake in Western Alliance Bancorporation by 3.5%, selling 115,954 shares, and now owns approximately 2.92% of the company, valued at $247.5 million.
• Several other institutional investors have also adjusted their positions, with Barrow Hanley Mewhinney & Strauss LLC increasing its holdings by 55.7% in the last quarter, reflecting strong institutional interest in the company.
• Western Alliance Bancorporation recently announced a quarterly dividend of $0.38, providing an annual yield of 1.8%, with a payout ratio of 19.97%.

Dimensional Fund Advisors LP lessened its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,221,734 shares of the financial services provider's stock after selling 115,954 shares during the quarter. Dimensional Fund Advisors LP owned 2.92% of Western Alliance Bancorporation worth $247,511,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WAL. Wells Fargo & Company MN lifted its holdings in shares of Western Alliance Bancorporation by 15.8% in the 4th quarter. Wells Fargo & Company MN now owns 35,217 shares of the financial services provider's stock worth $2,942,000 after acquiring an additional 4,797 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Western Alliance Bancorporation by 20.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 52,710 shares of the financial services provider's stock worth $4,403,000 after buying an additional 9,075 shares during the period. Raymond James Financial Inc. purchased a new position in Western Alliance Bancorporation in the 4th quarter worth about $2,695,000. Guggenheim Capital LLC increased its stake in Western Alliance Bancorporation by 236.0% in the 4th quarter. Guggenheim Capital LLC now owns 8,836 shares of the financial services provider's stock worth $738,000 after buying an additional 6,206 shares during the period. Finally, NewEdge Advisors LLC increased its stake in Western Alliance Bancorporation by 11.5% in the 4th quarter. NewEdge Advisors LLC now owns 4,566 shares of the financial services provider's stock worth $381,000 after buying an additional 470 shares during the period. Institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Up 7.0%

WAL stock traded up $5.7370 during trading on Friday, hitting $87.1870. 2,047,122 shares of the company's stock traded hands, compared to its average volume of 882,076. The firm has a market capitalization of $9.62 billion, a P/E ratio of 11.46, a PEG ratio of 0.60 and a beta of 1.33. The business has a fifty day simple moving average of $80.35 and a two-hundred day simple moving average of $77.25. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.03. The company had revenue of $836.21 million for the quarter, compared to analyst estimates of $838.58 million. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. During the same period last year, the company posted $1.75 earnings per share. Sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, August 14th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, August 14th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 19.97%.

Insider Activity

In other news, insider Tim R. Bruckner sold 2,500 shares of Western Alliance Bancorporation stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $83.91, for a total value of $209,775.00. Following the transaction, the insider owned 24,759 shares of the company's stock, valued at $2,077,527.69. The trade was a 9.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on WAL shares. DA Davidson raised their price target on shares of Western Alliance Bancorporation from $90.00 to $98.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Barclays raised their price target on shares of Western Alliance Bancorporation from $97.00 to $100.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Wall Street Zen raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Piper Sandler raised their price target on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Finally, Wells Fargo & Company reduced their price target on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Monday, July 21st. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $96.62.

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.