Dimensional Fund Advisors LP Decreases Holdings in Western Alliance Bancorporation (NYSE:WAL)

Dimensional Fund Advisors LP cut its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,337,688 shares of the financial services provider's stock after selling 82,626 shares during the period. Dimensional Fund Advisors LP owned 3.03% of Western Alliance Bancorporation worth $278,834,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in WAL. Retirement Systems of Alabama acquired a new position in Western Alliance Bancorporation during the 3rd quarter valued at about $11,461,000. Franklin Resources Inc. boosted its stake in Western Alliance Bancorporation by 17.0% during the 3rd quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider's stock valued at $27,970,000 after purchasing an additional 45,764 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Western Alliance Bancorporation by 9.3% during the 4th quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider's stock valued at $8,090,000 after purchasing an additional 8,201 shares during the last quarter. Norden Group LLC bought a new position in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $727,000. Finally, Generate Investment Management Ltd lifted its position in shares of Western Alliance Bancorporation by 0.7% during the 4th quarter. Generate Investment Management Ltd now owns 417,075 shares of the financial services provider's stock worth $34,842,000 after buying an additional 2,772 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WAL has been the topic of several recent analyst reports. Royal Bank of Canada dropped their target price 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. Piper Sandler lifted their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Barclays dropped their target price on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Stephens reissued an "overweight" rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $96.62.

Western Alliance Bancorporation Stock Performance

WAL stock traded down $1.05 during midday trading on Friday, reaching $69.75. 810,046 shares of the company's stock traded hands, compared to its average volume of 1,219,557. The company has a 50-day moving average price of $74.54 and a two-hundred day moving average price of $83.30. 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 has a 52 week low of $56.70 and a 52 week high of $98.10. The firm has a market capitalization of $7.70 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.01. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. The business had revenue of $790.10 million for the quarter, compared to analysts' expectations of $792.25 million. During the same quarter in the previous year, the firm posted $1.72 EPS. As a group, equities analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.18%. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 20.85%.

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.