Western Alliance Bancorporation (NYSE:WAL) Stock Holdings Increased by Nicholas Investment Partners LP

Nicholas Investment Partners LP increased its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 12.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 174,582 shares of the financial services provider's stock after buying an additional 19,639 shares during the period. Western Alliance Bancorporation comprises approximately 1.3% of Nicholas Investment Partners LP's holdings, making the stock its 12th biggest position. Nicholas Investment Partners LP owned 0.16% of Western Alliance Bancorporation worth $14,585,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Janus Henderson Group PLC boosted its holdings in shares of Western Alliance Bancorporation by 23.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider's stock valued at $195,616,000 after buying an additional 445,176 shares during the period. Focus Partners Wealth boosted its holdings in shares of Western Alliance Bancorporation by 5.2% in the 4th quarter. Focus Partners Wealth now owns 99,080 shares of the financial services provider's stock valued at $8,277,000 after buying an additional 4,909 shares during the period. Deutsche Bank AG boosted its stake in Western Alliance Bancorporation by 7.9% during the 4th quarter. Deutsche Bank AG now owns 6,014 shares of the financial services provider's stock valued at $502,000 after purchasing an additional 442 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Western Alliance Bancorporation during the 4th quarter valued at about $7,309,000. Finally, Driehaus Capital Management LLC boosted its stake in Western Alliance Bancorporation by 5.1% during the 4th quarter. Driehaus Capital Management LLC now owns 685,010 shares of the financial services provider's stock valued at $57,226,000 after purchasing an additional 33,195 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL traded down $0.05 during trading on Friday, reaching $78.31. The company had a trading volume of 773,897 shares, compared to its average volume of 1,222,378. The firm's fifty day moving average is $71.85 and its 200 day moving average is $82.12. The firm has a market capitalization of $8.65 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30. 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 quick ratio of 0.82 and a current ratio of 0.85.

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 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.01. The company had revenue of $790.10 million during 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 period in the prior year, the business posted $1.72 EPS. On average, equities analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a $0.38 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.94%. Western Alliance Bancorporation's payout ratio is currently 20.85%.

Analysts Set New Price Targets

A number of research firms have issued reports on WAL. Piper Sandler boosted their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Wells Fargo & Company reduced their target price on shares of 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. DA Davidson reduced their target price on shares of 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. Stephens reissued an "overweight" rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Finally, Royal Bank of Canada reduced their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" 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 issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.38.

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.