Western Alliance Bancorporation (NYSE:WAL) Stake Boosted by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. grew its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 103.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,725,328 shares of the financial services provider's stock after purchasing an additional 876,413 shares during the period. Western Alliance Bancorporation makes up about 1.1% of Vaughan Nelson Investment Management L.P.'s holdings, making the stock its 23rd biggest position. Vaughan Nelson Investment Management L.P. owned approximately 1.58% of Western Alliance Bancorporation worth $113,510,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Western Alliance Bancorporation by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 10,022,268 shares of the financial services provider's stock worth $460,724,000 after acquiring an additional 74,824 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in shares of Western Alliance Bancorporation by 7.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,058,243 shares of the financial services provider's stock worth $360,829,000 after acquiring an additional 402,614 shares during the period. BlackRock Inc. grew its holdings in shares of Western Alliance Bancorporation by 12.5% in the 2nd quarter. BlackRock Inc. now owns 5,410,343 shares of the financial services provider's stock worth $197,315,000 after acquiring an additional 601,129 shares during the period. Wellington Management Group LLP grew its holdings in shares of Western Alliance Bancorporation by 21.5% in the 1st quarter. Wellington Management Group LLP now owns 4,971,314 shares of the financial services provider's stock worth $411,724,000 after acquiring an additional 880,430 shares during the period. Finally, State Street Corp grew its holdings in shares of Western Alliance Bancorporation by 44.4% in the 1st quarter. State Street Corp now owns 4,056,477 shares of the financial services provider's stock worth $144,167,000 after acquiring an additional 1,246,855 shares during the period. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Trading Down 0.7 %

Shares of WAL traded down $0.45 during trading hours on Friday, hitting $59.74. The stock had a trading volume of 711,189 shares, compared to its average volume of 1,085,025. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96. The firm has a market cap of $6.58 billion, a P/E ratio of 9.13 and a beta of 1.47. The company's fifty day simple moving average is $60.36 and its 200 day simple moving average is $55.59. Western Alliance Bancorporation has a 12-month low of $11.35 and a 12-month high of $70.23.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its earnings results on Friday, January 26th. The financial services provider reported $1.91 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.02). Western Alliance Bancorporation had a return on equity of 16.33% and a net margin of 16.74%. The firm had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $705.97 million. During the same period last year, the business posted $2.67 earnings per share. Equities research analysts forecast that Western Alliance Bancorporation will post 7.88 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WAL shares. Barclays began coverage on Western Alliance Bancorporation in a report on Friday, March 8th. They issued an "overweight" rating and a $91.00 price target on the stock. DA Davidson reiterated a "buy" rating and set a $85.00 target price on shares of Western Alliance Bancorporation in a report on Thursday, March 21st. Truist Financial reiterated a "buy" rating and set a $80.00 target price on shares of Western Alliance Bancorporation in a report on Monday, April 1st. Citigroup increased their target price on Western Alliance Bancorporation from $76.00 to $82.00 and gave the company a "buy" rating in a report on Monday, January 29th. Finally, Royal Bank of Canada increased their target price on Western Alliance Bancorporation from $74.00 to $78.00 and gave the company an "outperform" rating in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation presently has an average rating of "Moderate Buy" and a consensus price target of $65.06.

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.