Rhumbline Advisers Sells 11,306 Shares of Western Alliance Bancorporation $WAL

Rhumbline Advisers lowered its holdings in Western Alliance Bancorporation (NYSE:WAL) by 3.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 293,162 shares of the financial services provider’s stock after selling 11,306 shares during the quarter. Rhumbline Advisers’ holdings in Western Alliance Bancorporation were worth $25,423,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC lifted its stake in shares of Western Alliance Bancorporation by 71.2% in the first quarter. NewEdge Advisors LLC now owns 7,815 shares of the financial services provider’s stock valued at $600,000 after buying an additional 3,249 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Western Alliance Bancorporation by 513.5% in the 1st quarter. Jones Financial Companies Lllp now owns 1,730 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 1,448 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Western Alliance Bancorporation by 24.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 111,883 shares of the financial services provider’s stock valued at $8,596,000 after purchasing an additional 21,642 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Western Alliance Bancorporation by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,529 shares of the financial services provider’s stock worth $26,701,000 after purchasing an additional 35,276 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Western Alliance Bancorporation during the 2nd quarter worth approximately $1,816,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on WAL shares. Truist Financial set a $98.00 target price on Western Alliance Bancorporation in a report on Friday, January 9th. Wall Street Zen raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Jefferies Financial Group increased their target price on shares of Western Alliance Bancorporation from $105.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. UBS Group set a $106.00 price target on shares of Western Alliance Bancorporation in a report on Wednesday, February 4th. Finally, iA Financial set a $101.00 price objective on shares of Western Alliance Bancorporation in a research report on Wednesday, January 28th. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus price target of $103.73.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL opened at $93.07 on Tuesday. The company has a market capitalization of $10.24 billion, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 0.79 and a beta of 1.37. The company’s 50-day moving average is $88.64 and its 200 day moving average is $84.72. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.79 and a current ratio of 0.83. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Monday, January 26th. The financial services provider reported $2.59 EPS for the quarter, topping the consensus estimate of $2.40 by $0.19. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. The business had revenue of $980.90 million for the quarter, compared to analyst estimates of $912.69 million. During the same quarter in the previous year, the firm posted $1.95 earnings per share. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, February 20th. Western Alliance Bancorporation’s dividend payout ratio is 19.24%.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.