Compound Global Advisors LLC Trims Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Compound Global Advisors LLC reduced its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 36.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 343,901 shares of the financial services provider's stock after selling 197,347 shares during the quarter. Western Alliance Bancorporation makes up 4.2% of Compound Global Advisors LLC's portfolio, making the stock its 6th biggest position. Compound Global Advisors LLC owned approximately 0.31% of Western Alliance Bancorporation worth $22,625,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WAL. Harbour Investments Inc. lifted its position in Western Alliance Bancorporation by 400.7% in the 1st quarter. Harbour Investments Inc. now owns 696 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 557 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in Western Alliance Bancorporation in the 1st quarter valued at about $64,000. Lazard Asset Management LLC bought a new stake in Western Alliance Bancorporation in the 2nd quarter valued at about $28,000. State of Wyoming increased its stake in Western Alliance Bancorporation by 54.7% during the 2nd quarter. State of Wyoming now owns 783 shares of the financial services provider's stock valued at $29,000 after buying an additional 277 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Western Alliance Bancorporation by 436.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 800 shares of the financial services provider's stock valued at $66,000 after buying an additional 651 shares during the period. 79.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WAL has been the topic of several research analyst reports. Citigroup raised their target price on shares of Western Alliance Bancorporation from $76.00 to $82.00 and gave the company a "buy" rating in a research note on Monday, January 29th. JPMorgan Chase & Co. lowered their price objective on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday. Truist Financial reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Western Alliance Bancorporation in a research note on Monday. Barclays began coverage on shares of Western Alliance Bancorporation in a research note on Friday, March 8th. They issued an "overweight" rating and a $91.00 price objective on the stock. Finally, StockNews.com cut shares of Western Alliance Bancorporation from a "hold" rating to a "sell" rating in a research note on Saturday, March 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $65.06.

Western Alliance Bancorporation Stock Down 0.7 %

NYSE WAL traded down $0.45 during trading on Friday, reaching $59.74. The company's stock had a trading volume of 711,231 shares, compared to its average volume of 1,504,919. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $6.58 billion, a PE ratio of 9.18 and a beta of 1.47. The business has a 50-day moving average price of $60.51 and a 200-day moving average price of $55.50. Western Alliance Bancorporation has a 1-year low of $11.35 and a 1-year high of $70.23.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its earnings results on Friday, January 26th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.93 by ($0.02). The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $705.97 million. Western Alliance Bancorporation had a net margin of 16.74% and a return on equity of 16.33%. During the same quarter last year, the firm earned $2.67 earnings per share. On average, research analysts forecast that Western Alliance Bancorporation will post 7.89 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Thursday, February 15th. Western Alliance Bancorporation's dividend payout ratio is 22.63%.

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.

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