Miller Value Partners LLC Has $11.79 Million Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Miller Value Partners LLC grew its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 141,110 shares of the financial services provider’s stock after acquiring an additional 8,165 shares during the period. Western Alliance Bancorporation accounts for approximately 5.0% of Miller Value Partners LLC’s investment portfolio, making the stock its 8th biggest holding. Miller Value Partners LLC’s holdings in Western Alliance Bancorporation were worth $11,788,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new stake in Western Alliance Bancorporation in the fourth quarter worth approximately $109,298,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Western Alliance Bancorporation by 55.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider’s stock valued at $151,604,000 after acquiring an additional 648,983 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Western Alliance Bancorporation by 6,342.7% during the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock valued at $44,522,000 after acquiring an additional 506,778 shares during the period. Bank of Montreal Can lifted its position in shares of Western Alliance Bancorporation by 973.1% during the 4th quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider’s stock valued at $35,239,000 after acquiring an additional 382,513 shares during the period. Finally, Invesco Ltd. boosted its stake in Western Alliance Bancorporation by 5.1% during the fourth quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider’s stock worth $479,207,000 after acquiring an additional 278,041 shares in the last quarter. 79.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WAL has been the topic of several research reports. DA Davidson dropped their price objective on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Wells Fargo & Company reduced their price objective on 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. Piper Sandler increased their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reduced their price target on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.62.

Western Alliance Bancorporation Stock Up 2.9 %

WAL stock opened at $70.72 on Friday. Western Alliance Bancorporation has a 1-year low of $56.70 and a 1-year high of $98.10. The stock has a market cap of $7.81 billion, a P/E ratio of 9.96, a P/E/G ratio of 0.63 and a beta of 1.29. The stock’s fifty day simple moving average is $74.98 and its two-hundred day simple moving average is $83.43. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.01. The firm had revenue of $790.10 million for the quarter, compared to analysts’ expectations 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 previous year, the company earned $1.72 earnings per share. Analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.41%.

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.