FJ Capital Management LLC Cuts Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

FJ Capital Management LLC decreased its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 81.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,847 shares of the financial services provider's stock after selling 211,443 shares during the quarter. FJ Capital Management LLC's holdings in Western Alliance Bancorporation were worth $3,997,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Western Alliance Bancorporation in the fourth quarter valued at approximately $109,298,000. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Western Alliance Bancorporation by 55.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock worth $151,604,000 after purchasing an additional 648,983 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Western Alliance Bancorporation by 6,342.7% during the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider's stock valued at $44,522,000 after acquiring an additional 506,778 shares in the last quarter. Bank of Montreal Can lifted its stake in Western Alliance Bancorporation by 973.1% during the 4th quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider's stock valued at $35,239,000 after acquiring an additional 382,513 shares in the last quarter. Finally, Global Frontier Investments LLC purchased a new stake in shares of Western Alliance Bancorporation during the 4th quarter valued at $23,809,000. Institutional investors own 79.15% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WAL. Piper Sandler lifted their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. 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. DA Davidson reduced their target price on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. 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 research note on Tuesday, April 8th. Finally, StockNews.com upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and a consensus price target of $96.62.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL traded down $0.51 during midday trading on Friday, reaching $74.44. The stock had a trading volume of 446,405 shares, compared to its average volume of 1,217,631. The stock has a 50-day moving average of $71.61 and a 200-day moving average of $82.26. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30. Western Alliance Bancorporation has a 12-month low of $56.70 and a 12-month high of $98.10.

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, beating the consensus estimate of $1.78 by $0.01. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. The company had revenue of $790.10 million during the quarter, compared to analysts' expectations of $792.25 million. During the same period last year, the company posted $1.72 earnings per share. As a group, research analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be issued a $0.38 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 2.04%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 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.