Kovitz Investment Group Partners LLC Sells 3,881 Shares of Western Alliance Bancorporation (NYSE:WAL)

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC grew its stake in Western Alliance Bancorporation by 56.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp increased its holdings in Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after purchasing an additional 136 shares during the last quarter. Allworth Financial LP boosted its stake 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 valued at $37,000 after buying an additional 215 shares during the last quarter. Finally, Atala Financial Inc acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL traded up $0.83 during trading on Monday, hitting $73.66. 123,060 shares of the company were exchanged, compared to its average volume of 1,213,312. The company has a market capitalization of $8.15 billion, a P/E ratio of 10.38, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a 1-year low of $56.70 and a 1-year high of $98.10. The business's 50 day moving average is $72.81 and its 200-day moving average is $82.61. 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 (NYSE:WAL - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.01. The firm had revenue of $790.10 million for the quarter, compared to analyst estimates 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 period last year, the firm earned $1.72 earnings per share. Equities analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Thursday, May 15th. Western Alliance Bancorporation's payout ratio is 20.85%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler boosted their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Royal Bank of Canada cut 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 research note on Wednesday, April 23rd. Wells Fargo & Company dropped their price target on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. cut their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Finally, StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $96.62.

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.