Nicholas Investment Partners LP Grows Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Nicholas Investment Partners LP lifted its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 12.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,582 shares of the financial services provider's stock after purchasing an additional 19,639 shares during the quarter. Western Alliance Bancorporation accounts for approximately 1.3% of Nicholas Investment Partners LP's portfolio, making the stock its 12th largest holding. Nicholas Investment Partners LP owned 0.16% of Western Alliance Bancorporation worth $14,585,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Western Alliance Bancorporation by 2.7% in the fourth 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 acquiring an additional 154,575 shares during the period. Invesco Ltd. increased its holdings 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 valued at $479,207,000 after acquiring an additional 278,041 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Western Alliance Bancorporation by 0.6% during 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 buying an additional 22,942 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Western Alliance Bancorporation by 23.5% in the fourth quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider's stock worth $195,616,000 after purchasing an additional 445,176 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Western Alliance Bancorporation by 4.5% during 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 in the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL traded down $1.10 during mid-day trading on Monday, reaching $77.03. The company's stock had a trading volume of 150,336 shares, compared to its average volume of 1,220,948. 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 firm has a market capitalization of $8.50 billion, a PE ratio of 10.86, a P/E/G ratio of 0.63 and a beta of 1.30. Western Alliance Bancorporation has a 52 week low of $56.70 and a 52 week high of $98.10. The stock has a fifty day moving average of $71.85 and a two-hundred day moving average of $82.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.01. The company had revenue of $790.10 million for 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 in the prior year, the firm earned $1.72 earnings per share. As a group, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio is currently 20.85%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on WAL shares. Piper Sandler lifted their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Truist Financial began coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, May 13th. They set a "buy" rating and a $92.00 price target on the stock. Royal Bank of Canada decreased their price target on shares of 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. DA Davidson cut their price target on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, StockNews.com cut Western Alliance Bancorporation from a "hold" rating to a "sell" rating in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, one has issued 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $96.38.

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.