First Trust Advisors LP Buys 6,489 Shares of Western Alliance Bancorporation (NYSE:WAL)

First Trust Advisors LP lifted its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 213,666 shares of the financial services provider's stock after acquiring an additional 6,489 shares during the quarter. First Trust Advisors LP owned approximately 0.19% of Western Alliance Bancorporation worth $17,850,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WAL. Barclays PLC increased its stake in shares of Western Alliance Bancorporation by 2.9% in the third quarter. Barclays PLC now owns 123,412 shares of the financial services provider's stock worth $10,674,000 after purchasing an additional 3,421 shares in the last quarter. Franklin Resources Inc. raised its holdings in Western Alliance Bancorporation by 17.0% during the third quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider's stock valued at $27,970,000 after acquiring an additional 45,764 shares during the period. Oddo BHF Asset Management Sas purchased a new position in shares of Western Alliance Bancorporation in the third quarter valued at about $639,000. Retirement Systems of Alabama bought a new position in shares of Western Alliance Bancorporation in the third quarter worth about $11,461,000. Finally, Principal Financial Group Inc. grew its position in shares of Western Alliance Bancorporation by 6,342.7% during the third quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider's stock worth $44,522,000 after purchasing an additional 506,778 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on WAL shares. Wells Fargo & Company dropped their price target on 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. Royal Bank of Canada cut their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Barclays decreased their price target on shares of 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. StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, DA Davidson dropped their price target on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and a consensus price target of $96.62.

Western Alliance Bancorporation Trading Up 3.6 %

Shares of WAL stock traded up $2.58 during trading hours on Friday, reaching $73.56. 133,183 shares of the stock were exchanged, compared to its average volume of 1,267,405. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of 10.36, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a 12-month low of $56.70 and a 12-month high of $98.10. The company's 50-day moving average price is $73.06 and its 200-day moving average price is $82.88. 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 (NYSE:WAL - Get Free Report) last released its earnings results on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.01. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. The firm had revenue of $790.10 million for the quarter, compared to analysts' expectations of $792.25 million. During the same quarter in the prior year, the firm posted $1.72 earnings per share. As a group, equities analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation's payout ratio is presently 20.85%.

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.