Janus Henderson Group PLC Grows Position in Western Alliance Bancorporation (NYSE:WAL)

Janus Henderson Group PLC increased its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 23.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,341,553 shares of the financial services provider's stock after buying an additional 445,176 shares during the quarter. Janus Henderson Group PLC owned 2.13% of Western Alliance Bancorporation worth $195,616,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of WAL. Barclays PLC grew its holdings in 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 buying an additional 3,421 shares in the last quarter. Principal Financial Group Inc. grew its holdings in 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 worth $44,522,000 after buying an additional 506,778 shares in the last quarter. Jackson Square Capital LLC grew its holdings in Western Alliance Bancorporation by 64.4% during the fourth quarter. Jackson Square Capital LLC now owns 33,114 shares of the financial services provider's stock worth $2,766,000 after buying an additional 12,972 shares in the last quarter. Delta Capital Management LLC bought a new stake in Western Alliance Bancorporation during the fourth quarter worth $213,000. Finally, Diversify Wealth Management LLC bought a new stake in Western Alliance Bancorporation during the fourth quarter worth $471,000. Institutional investors own 79.15% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WAL shares. Royal Bank of Canada decreased their price target 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. Wells Fargo & Company reduced their price objective on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Piper Sandler upped their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Truist Financial assumed coverage on Western Alliance Bancorporation in a research note on Tuesday. They issued a "buy" rating and a $92.00 price objective for the company. Finally, DA Davidson reduced their price objective on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and a consensus price target of $96.38.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock traded down $1.62 on Thursday, hitting $78.32. 714,086 shares of the stock were exchanged, compared to its average volume of 1,220,479. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $8.65 billion, a PE ratio of 11.03, a P/E/G ratio of 0.63 and a beta of 1.30. Western Alliance Bancorporation has a one year low of $56.70 and a one year high of $98.10. The firm's 50 day moving average is $71.65 and its two-hundred day moving average is $82.21.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.01. The company had revenue of $790.10 million during the quarter, compared to the consensus estimate 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 in the prior year, the company earned $1.72 EPS. Sell-side analysts expect 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 declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.94%. 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.