Ariel Investments LLC Buys 156,715 Shares of Western Alliance Bancorporation (NYSE:WAL)

Ariel Investments LLC raised its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 43.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 520,020 shares of the financial services provider's stock after purchasing an additional 156,715 shares during the quarter. Ariel Investments LLC owned 0.47% of Western Alliance Bancorporation worth $43,442,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new position in Western Alliance Bancorporation during the 4th quarter worth $109,298,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in 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 purchasing an additional 648,983 shares in the last quarter. Principal Financial Group Inc. increased its stake in 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 buying an additional 506,778 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Western Alliance Bancorporation by 973.1% in the 4th quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider's stock worth $35,239,000 after buying an additional 382,513 shares during the last quarter. Finally, Global Frontier Investments LLC purchased a new stake in shares of Western Alliance Bancorporation during the fourth quarter valued at approximately $23,809,000. Hedge funds and other institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Price Performance

NYSE:WAL traded up $3.77 during trading hours on Thursday, hitting $75.18. 357,046 shares of the company's stock traded hands, compared to its average volume of 1,250,728. The firm has a market cap of $8.32 billion, a P/E ratio of 10.59, a P/E/G ratio of 0.63 and a beta of 1.30. 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 business's fifty day simple moving average is $71.93 and its two-hundred day simple moving average is $82.36. Western Alliance Bancorporation has a 52 week low of $56.70 and a 52 week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $790.10 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned $1.72 EPS. On average, research analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared 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 yield of 2.02%. Western Alliance Bancorporation's dividend payout ratio is presently 20.85%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WAL. Wells Fargo & Company lowered 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. Royal Bank of Canada lowered their target price on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Barclays dropped their price target on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, Piper Sandler increased their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of "Moderate Buy" and an average price target 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.