Voya Investment Management LLC Acquires 214,612 Shares of Western Alliance Bancorporation (NYSE:WAL)

Voya Investment Management LLC raised its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 64.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 548,213 shares of the financial services provider's stock after purchasing an additional 214,612 shares during the period. Voya Investment Management LLC owned 0.50% of Western Alliance Bancorporation worth $45,798,000 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 company. Price T Rowe Associates Inc. MD boosted its stake in Western Alliance Bancorporation by 2.7% during the 4th 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 purchasing an additional 154,575 shares during the period. Invesco Ltd. lifted its stake in shares of Western Alliance Bancorporation by 5.1% in the 4th quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider's stock worth $479,207,000 after acquiring an additional 278,041 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Western Alliance Bancorporation by 0.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,577,760 shares of the financial services provider's stock worth $298,887,000 after acquiring an additional 22,942 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Western Alliance Bancorporation by 4.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider's stock worth $157,369,000 after acquiring an additional 81,238 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Western Alliance Bancorporation by 55.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock worth $151,604,000 after acquiring an additional 648,983 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WAL has been the subject of a number of research analyst reports. Stephens reaffirmed an "overweight" rating and issued a $92.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Royal Bank of Canada dropped their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Piper Sandler boosted their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Wells Fargo & Company dropped their target price on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Finally, Barclays dropped 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 research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $96.62.

Western Alliance Bancorporation Stock Up 1.8 %

Shares of NYSE WAL traded up $1.28 during mid-day trading on Thursday, reaching $70.99. The company had a trading volume of 144,409 shares, compared to its average volume of 1,213,703. 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 has a twelve month low of $56.70 and a twelve month high of $98.10. The stock's 50 day moving average is $73.36 and its 200-day moving average is $83.00. The stock has a market capitalization of $7.85 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released 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 firm had revenue of $790.10 million during the quarter, compared to analysts' expectations of $792.25 million. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. During the same quarter last year, the firm earned $1.72 earnings per share. As a group, equities analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.38 per share. 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 2.14%. Western Alliance Bancorporation's payout ratio is 20.85%.

About Western Alliance Bancorporation

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.