Westwood Holdings Group Inc. Sells 14,801 Shares of Western Alliance Bancorporation (NYSE:WAL)

Westwood Holdings Group Inc. cut its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 5.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 267,190 shares of the financial services provider's stock after selling 14,801 shares during the period. Westwood Holdings Group Inc. owned approximately 0.24% of Western Alliance Bancorporation worth $22,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in WAL. SBI Securities Co. Ltd. purchased a new position in Western Alliance Bancorporation in the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC raised its stake in Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock valued at $27,000 after buying an additional 117 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after purchasing an additional 136 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock worth $37,000 after buying an additional 215 shares during the last quarter. Finally, Atala Financial Inc purchased a new stake in Western Alliance Bancorporation in the 4th quarter valued at approximately $44,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Trading Up 0.4%

WAL stock traded up $0.30 during midday trading on Thursday, hitting $72.15. The stock had a trading volume of 716,253 shares, compared to its average volume of 1,226,237. The firm has a market cap of $7.97 billion, a P/E ratio of 10.16, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30. 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 1-year low of $56.70 and a 1-year high of $98.10. The business has a fifty day moving average price of $71.79 and a two-hundred day moving average price of $81.94.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share 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 net margin of 15.49% and a return on equity of 13.14%. During the same quarter in the prior year, the business posted $1.72 EPS. On average, sell-side analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be paid a $0.38 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.11%. Western Alliance Bancorporation's payout ratio is presently 20.85%.

Analysts Set New Price Targets

Several research analysts recently issued reports on WAL shares. Jefferies Financial Group initiated coverage on Western Alliance Bancorporation in a research report on Wednesday. They set a "buy" rating and a $95.00 price objective for the company. Truist Financial initiated coverage on shares of Western Alliance Bancorporation in a report on Tuesday, May 13th. They issued a "buy" rating and a $92.00 price objective for the company. DA Davidson cut their target price 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. Wall Street Zen upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Wednesday. Finally, Wells Fargo & Company cut their target price on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.