Western Alliance Bancorporation (NYSE:WAL) Shares Purchased by Hood River Capital Management LLC

Hood River Capital Management LLC increased its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 3.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,249,742 shares of the financial services provider's stock after acquiring an additional 44,156 shares during the period. Western Alliance Bancorporation makes up about 1.5% of Hood River Capital Management LLC's portfolio, making the stock its 12th largest holding. Hood River Capital Management LLC owned 1.14% of Western Alliance Bancorporation worth $104,403,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank acquired a new stake in Western Alliance Bancorporation in the 4th quarter worth about $109,298,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in 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 valued at $151,604,000 after acquiring an additional 648,983 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Western Alliance Bancorporation by 6,342.7% in the 3rd 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. Bank of Montreal Can boosted its holdings in shares of 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 worth $35,239,000 after purchasing an additional 382,513 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Western Alliance Bancorporation by 5.1% in the fourth quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider's stock valued at $479,207,000 after purchasing an additional 278,041 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company lowered their price objective on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. Barclays decreased 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. Royal Bank of Canada cut their price objective 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, JPMorgan Chase & Co. lowered their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $96.62.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL traded down $0.19 during trading hours on Monday, reaching $69.52. The stock had a trading volume of 164,260 shares, compared to its average volume of 1,215,385. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a fifty-two week low of $56.70 and a fifty-two week high of $98.10. The firm has a 50-day moving average of $74.54 and a 200-day moving average of $83.30. 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 (NYSE:WAL - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, beating the consensus estimate of $1.78 by $0.01. The firm had revenue of $790.10 million during the quarter, compared to the consensus estimate 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 firm earned $1.72 EPS. Equities research analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.38 per share. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.19%. Western Alliance Bancorporation's payout ratio is 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.