MetLife Investment Management LLC Has $5.13 Million Holdings in Western Alliance Bancorporation (NYSE:WAL)

MetLife Investment Management LLC raised its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,453 shares of the financial services provider's stock after purchasing an additional 5,103 shares during the period. MetLife Investment Management LLC owned 0.06% of Western Alliance Bancorporation worth $5,134,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of WAL. Barclays PLC increased its position in Western Alliance Bancorporation by 2.9% during the 3rd quarter. Barclays PLC now owns 123,412 shares of the financial services provider's stock worth $10,674,000 after buying an additional 3,421 shares during the period. Sanctuary Advisors LLC raised its position in shares of Western Alliance Bancorporation by 89.5% in the third quarter. Sanctuary Advisors LLC now owns 7,125 shares of the financial services provider's stock valued at $667,000 after buying an additional 3,365 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Western Alliance Bancorporation by 17.0% in the third quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider's stock valued at $27,970,000 after buying an additional 45,764 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in Western Alliance Bancorporation during the third quarter worth approximately $639,000. Finally, Retirement Systems of Alabama acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at $11,461,000. 79.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WAL has been the subject of several recent analyst reports. Piper Sandler upped their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Stephens restated an "overweight" rating and set 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 report on Wednesday, April 23rd. 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. Finally, JPMorgan Chase & Co. dropped their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Western Alliance Bancorporation has a consensus rating of "Moderate Buy" and a consensus price target of $96.62.

Western Alliance Bancorporation Trading Down 0.4 %

Shares of NYSE:WAL traded down $0.27 during midday trading on Tuesday, hitting $70.13. 90,268 shares of the stock were exchanged, compared to its average volume of 1,213,089. The business's 50-day moving average price is $74.09 and its 200 day moving average price is $83.18. Western Alliance Bancorporation has a 12 month low of $56.70 and a 12 month high of $98.10. 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 stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 0.63 and a beta of 1.29.

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, topping 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 in the previous year, the firm posted $1.72 EPS. 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 announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio is currently 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.