Western Alliance Bancorporation (NYSE:WAL) Stake Lowered by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC cut its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 19.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,798 shares of the financial services provider's stock after selling 3,881 shares during the period. Kovitz Investment Group Partners LLC's holdings in Western Alliance Bancorporation were worth $1,320,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in Western Alliance Bancorporation during the fourth quarter worth $26,000. Smartleaf Asset Management LLC raised its stake in Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after acquiring an additional 117 shares during the period. Fifth Third Bancorp lifted its holdings in Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after acquiring an additional 136 shares during the last quarter. Allworth Financial LP raised its position in shares of Western Alliance Bancorporation by 115.6% during the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock worth $37,000 after purchasing an additional 215 shares during the period. Finally, Atala Financial Inc bought a new position in Western Alliance Bancorporation during the 4th quarter worth $44,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WAL. Royal Bank of Canada dropped their price objective on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Stephens reiterated an "overweight" rating and set a $92.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Barclays lowered their target price on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. decreased their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Finally, StockNews.com raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $96.62.

Western Alliance Bancorporation Trading Up 2.5 %

Shares of NYSE WAL traded up $1.80 during mid-day trading on Friday, hitting $72.78. 1,123,598 shares of the company traded hands, compared to its average volume of 1,216,982. The company has a quick ratio of 0.82, a current ratio of 0.85 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 stock has a market capitalization of $8.05 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 0.63 and a beta of 1.29. The business has a 50 day moving average of $72.81 and a two-hundred day moving average of $82.75.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $790.10 million during the quarter, compared to analyst estimates of $792.25 million. During the same quarter last year, the business posted $1.72 EPS. On average, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, May 15th. Western Alliance Bancorporation's payout ratio is 20.85%.

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.