Patient Capital Management LLC Sells 207,210 Shares of Western Alliance Bancorporation (NYSE:WAL)

Patient Capital Management LLC reduced its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 88.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,282 shares of the financial services provider's stock after selling 207,210 shares during the quarter. Patient Capital Management LLC's holdings in Western Alliance Bancorporation were worth $2,363,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in Western Alliance Bancorporation by 2.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,968,526 shares of the financial services provider's stock valued at $498,612,000 after acquiring an additional 154,575 shares during the last quarter. Invesco Ltd. boosted its stake in Western Alliance Bancorporation by 5.1% in the fourth quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider's stock valued at $479,207,000 after acquiring an additional 278,041 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Western Alliance Bancorporation by 0.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,577,760 shares of the financial services provider's stock valued at $298,887,000 after acquiring an additional 22,942 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Western Alliance Bancorporation by 23.5% in the fourth quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider's stock valued at $195,616,000 after acquiring an additional 445,176 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Western Alliance Bancorporation by 4.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider's stock valued at $157,369,000 after acquiring an additional 81,238 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Stock Down 0.1%

Shares of NYSE:WAL traded down $0.05 during midday trading on Friday, reaching $78.31. 773,897 shares of the company were exchanged, compared to its average volume of 1,222,378. Western Alliance Bancorporation has a fifty-two week low of $56.70 and a fifty-two week high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The stock has a fifty day simple moving average of $71.85 and a two-hundred day simple moving average of $82.12. The firm has a market cap of $8.65 billion, a PE ratio of 11.03, a P/E/G ratio of 0.63 and a beta of 1.30.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued 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 business had revenue of $790.10 million for the quarter, compared to analyst estimates of $792.25 million. During the same period last year, the business posted $1.72 earnings per share. As a group, sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.94%. Western Alliance Bancorporation's payout ratio is 20.85%.

Wall Street Analyst Weigh In

WAL has been the topic of a number of recent research reports. Piper Sandler raised their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Wells Fargo & Company reduced their price objective on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Truist Financial assumed coverage on shares of Western Alliance Bancorporation in a research note on Tuesday. They issued a "buy" rating and a $92.00 price objective on the stock. Barclays cut their target price on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Stephens reiterated an "overweight" rating and issued a $92.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Western Alliance Bancorporation presently has an average rating of "Moderate Buy" and a consensus target price of $96.38.

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.