Tower Research Capital LLC TRC Acquires 11,256 Shares of Western Alliance Bancorporation (NYSE:WAL)

Tower Research Capital LLC TRC lifted its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 591.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,160 shares of the financial services provider's stock after buying an additional 11,256 shares during the period. Tower Research Capital LLC TRC's holdings in Western Alliance Bancorporation were worth $1,099,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC raised its position in Western Alliance Bancorporation by 2.9% in 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 in the last quarter. Franklin Resources Inc. raised its holdings in shares of Western Alliance Bancorporation by 17.0% in the 3rd quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider's stock worth $27,970,000 after buying an additional 45,764 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in Western Alliance Bancorporation in the 3rd quarter valued at $639,000. Retirement Systems of Alabama acquired a new position in Western Alliance Bancorporation during the third quarter worth $11,461,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Western Alliance Bancorporation by 6,342.7% during the third quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider's stock valued at $44,522,000 after acquiring an additional 506,778 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WAL. StockNews.com raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Piper Sandler increased their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Royal Bank of Canada cut their price objective on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Finally, Wells Fargo & Company cut their price target on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Western Alliance Bancorporation presently has an average rating of "Moderate Buy" and an average price target of $96.62.

Western Alliance Bancorporation Stock Down 2.8 %

Shares of Western Alliance Bancorporation stock traded down $2.02 on Wednesday, hitting $68.96. The company had a trading volume of 150,483 shares, compared to its average volume of 1,280,240. Western Alliance Bancorporation has a twelve month low of $56.70 and a twelve month high of $98.10. 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 50-day moving average of $73.71 and a 200-day moving average of $83.09. The firm has a market capitalization of $7.62 billion, a P/E ratio of 9.71, a P/E/G ratio of 0.63 and a beta of 1.29.

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

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.20%. Western Alliance Bancorporation's payout ratio is 20.85%.

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.