Rockefeller Capital Management L.P. Buys 59,383 Shares of Western Alliance Bancorporation (NYSE:WAL)

Rockefeller Capital Management L.P. increased its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 34.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 233,549 shares of the financial services provider's stock after purchasing an additional 59,383 shares during the period. Rockefeller Capital Management L.P. owned 0.21% of Western Alliance Bancorporation worth $19,511,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of WAL. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Western Alliance Bancorporation by 196.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 920 shares of the financial services provider's stock worth $80,000 after buying an additional 610 shares during the period. Barclays PLC increased its stake in shares of Western Alliance Bancorporation by 2.9% during the third quarter. Barclays PLC now owns 123,412 shares of the financial services provider's stock worth $10,674,000 after purchasing an additional 3,421 shares during the period. M&T Bank Corp boosted its stake in Western Alliance Bancorporation by 8.9% in the 3rd quarter. M&T Bank Corp now owns 5,626 shares of the financial services provider's stock valued at $487,000 after purchasing an additional 460 shares during the period. Geode Capital Management LLC grew its holdings in Western Alliance Bancorporation by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,880,681 shares of the financial services provider's stock valued at $162,701,000 after buying an additional 120,729 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in shares of Western Alliance Bancorporation by 89.5% during the third quarter. Sanctuary Advisors LLC now owns 7,125 shares of the financial services provider's stock worth $667,000 after buying an additional 3,365 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Stephens reiterated an "overweight" rating and issued a $103.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Piper Sandler raised their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Wells Fargo & Company cut their target price on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. StockNews.com raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Barclays decreased 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. Two analysts have rated the stock with a hold rating and fourteen 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 $96.40.

Western Alliance Bancorporation Price Performance

WAL stock traded up $0.90 during midday trading on Friday, reaching $66.14. 986,122 shares of the stock were exchanged, compared to its average volume of 1,208,244. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The stock has a market capitalization of $7.31 billion, a PE ratio of 9.32, a P/E/G ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a 52 week low of $56.70 and a 52 week high of $98.10. The company has a fifty day moving average price of $76.59 and a 200 day moving average price of $83.89.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. As a group, analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.30%. Western Alliance Bancorporation's payout ratio is 21.41%.

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.