Western Alliance Bancorporation (NYSE:WAL) Shares Bought by Northern Trust Corp

Northern Trust Corp lifted its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 912,054 shares of the financial services provider's stock after acquiring an additional 126,158 shares during the period. Northern Trust Corp owned about 0.83% of Western Alliance Bancorporation worth $76,193,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC lifted its position in shares of Western Alliance Bancorporation by 3.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider's stock worth $260,000 after buying an additional 114 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after acquiring an additional 117 shares during the last quarter. Fifth Third Bancorp boosted its stake in Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 136 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Western Alliance Bancorporation by 1.0% during the fourth quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider's stock valued at $1,359,000 after purchasing an additional 163 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Western Alliance Bancorporation by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,387 shares of the financial services provider's stock worth $283,000 after purchasing an additional 167 shares during the period. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Trading Down 1.0 %

NYSE:WAL opened at $72.08 on Tuesday. The stock has a fifty day simple moving average of $72.53 and a 200 day simple moving average of $82.52. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30. Western Alliance Bancorporation has a 1-year low of $56.70 and a 1-year high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its 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 business had revenue of $790.10 million for the quarter, compared to the consensus estimate 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 last year, the firm posted $1.72 earnings per share. Sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a $0.38 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 2.11%. Western Alliance Bancorporation's payout ratio is 20.85%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WAL shares. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Royal Bank of Canada cut their price objective on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Barclays dropped their price target on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. 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 report on Wednesday, April 23rd. Finally, Piper Sandler boosted their price target on 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 assigned a buy rating to the company's stock. According to MarketBeat, Western Alliance Bancorporation presently has an average rating of "Moderate Buy" and a consensus target price of $96.62.

Western Alliance Bancorporation Company 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.

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