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

Westwood Holdings Group Inc. cut its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WAL. Barclays PLC boosted its stake in Western Alliance Bancorporation by 2.9% during the third quarter. Barclays PLC now owns 123,412 shares of the financial services provider's stock valued at $10,674,000 after buying an additional 3,421 shares during the last quarter. Diversify Wealth Management LLC bought a new position in Western Alliance Bancorporation during the fourth quarter valued at approximately $471,000. Crossmark Global Holdings Inc. boosted its stake in Western Alliance Bancorporation by 6.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 5,796 shares of the financial services provider's stock valued at $484,000 after buying an additional 331 shares during the last quarter. Perpetual Ltd bought a new position in Western Alliance Bancorporation during the fourth quarter valued at approximately $223,000. Finally, Janney Montgomery Scott LLC bought a new position in Western Alliance Bancorporation during the fourth quarter valued at approximately $298,000. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Trading Down 0.9%

WAL traded down $0.68 during trading on Friday, hitting $71.56. 481,700 shares of the stock were exchanged, compared to its average volume of 1,227,333. The firm has a 50 day simple moving average of $71.62 and a 200 day simple moving average of $81.68. The firm has a market cap of $7.90 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 0.63 and a beta of 1.30. Western Alliance Bancorporation has a 1 year low of $56.70 and a 1 year high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its 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 business had revenue of $790.10 million for the quarter, compared to analysts' expectations 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 quarter last year, the firm earned $1.72 EPS. As a group, equities analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 2.12%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 20.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WAL shares. DA Davidson decreased their price objective on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Stephens reiterated an "overweight" rating and issued a $92.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Truist Financial assumed coverage on Western Alliance Bancorporation in a report on Tuesday, May 13th. They issued a "buy" rating and a $92.00 price target on the stock. 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 report on Wednesday, April 23rd. Finally, Barclays reduced their price target on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Western Alliance Bancorporation presently has a consensus 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.