AQR Capital Management LLC Trims Position in Western Alliance Bancorporation (NYSE:WAL)

AQR Capital Management LLC lessened its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 38.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 62,889 shares of the financial services provider's stock after selling 38,475 shares during the quarter. AQR Capital Management LLC owned approximately 0.06% of Western Alliance Bancorporation worth $5,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in Western Alliance Bancorporation during the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC increased its position in Western Alliance Bancorporation by 56.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 117 shares during the period. Fifth Third Bancorp increased its position in Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 136 shares during the period. Allworth Financial LP increased its position in Western Alliance Bancorporation by 115.6% during the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 215 shares during the period. Finally, Atala Financial Inc bought a new position in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 79.15% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Piper Sandler increased their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Stephens restated an "overweight" rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Barclays cut their price target on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, DA Davidson cut their price target on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $96.62.

Western Alliance Bancorporation Stock Up 6.4%

Shares of WAL traded up $4.73 during trading hours on Monday, hitting $79.20. The company had a trading volume of 1,787,118 shares, compared to its average volume of 1,219,909. The firm has a fifty day moving average price of $71.61 and a 200-day moving average price of $82.26. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The stock has a market capitalization of $8.74 billion, a price-to-earnings ratio of 11.15, 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.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, beating the consensus estimate of $1.78 by $0.01. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. The company had revenue of $790.10 million for the quarter, compared to analysts' expectations of $792.25 million. During the same period last year, the firm posted $1.72 earnings per share. On average, equities research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given 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 1.92%. Western Alliance Bancorporation's dividend payout ratio (DPR) 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.