Price T Rowe Associates Inc. MD Has $498.61 Million Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Price T Rowe Associates Inc. MD raised its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,968,526 shares of the financial services provider's stock after purchasing an additional 154,575 shares during the period. Price T Rowe Associates Inc. MD owned approximately 5.42% of Western Alliance Bancorporation worth $498,612,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC raised its stake 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. Franklin Resources Inc. increased its holdings 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 worth $27,970,000 after acquiring an additional 45,764 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Western Alliance Bancorporation during the third quarter worth about $639,000. Retirement Systems of Alabama bought a new position in shares of Western Alliance Bancorporation during the 3rd quarter valued at about $11,461,000. Finally, Principal Financial Group Inc. grew its position in shares of Western Alliance Bancorporation by 6,342.7% in the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider's stock valued at $44,522,000 after purchasing an additional 506,778 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Performance

Western Alliance Bancorporation stock traded down $2.02 during midday trading on Wednesday, reaching $68.96. 150,483 shares of the company's stock were exchanged, compared to its average volume of 1,213,204. Western Alliance Bancorporation has a 52 week low of $56.70 and a 52 week high of $98.10. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 9.71, a P/E/G ratio of 0.63 and a beta of 1.29. The stock's 50-day simple moving average is $73.71 and its 200 day simple moving average is $83.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.01. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. The business had revenue of $790.10 million during the quarter, compared to the consensus estimate of $792.25 million. During the same quarter last year, the firm posted $1.72 EPS. On average, analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 2.20%. Western Alliance Bancorporation's dividend payout ratio is currently 20.85%.

Wall Street Analyst Weigh In

Several brokerages have commented on WAL. StockNews.com upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. DA Davidson cut their price objective on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Royal Bank of Canada decreased their price objective on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company cut 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 report on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $96.62.

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.