Vanguard Group Inc. Sells 165,105 Shares of Western Alliance Bancorporation $WAL

Vanguard Group Inc. decreased its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,335,676 shares of the financial services provider’s stock after selling 165,105 shares during the period. Vanguard Group Inc. owned 0.09% of Western Alliance Bancorporation worth $868,920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quent Capital LLC bought a new stake in shares of Western Alliance Bancorporation during the third quarter valued at approximately $26,000. Salomon & Ludwin LLC bought a new stake in shares of Western Alliance Bancorporation during the third quarter valued at approximately $27,000. Root Financial Partners LLC bought a new stake in shares of Western Alliance Bancorporation during the third quarter valued at approximately $27,000. Community Bank N.A. bought a new stake in shares of Western Alliance Bancorporation during the third quarter valued at approximately $37,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Western Alliance Bancorporation by 113.0% during the third quarter. Smartleaf Asset Management LLC now owns 443 shares of the financial services provider’s stock valued at $39,000 after buying an additional 235 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Down 0.8%

NYSE WAL opened at $80.88 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.88. The company has a fifty day moving average of $75.93 and a two-hundred day moving average of $81.55. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.62 and a beta of 1.37. Western Alliance Bancorporation has a 52 week low of $65.82 and a 52 week high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.22 EPS for the quarter, topping the consensus estimate of $1.48 by $0.74. The company had revenue of $968.40 million during the quarter, compared to analyst estimates of $944.18 million. Western Alliance Bancorporation had a net margin of 17.03% and a return on equity of 13.58%. Western Alliance Bancorporation’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.79 earnings per share. On average, analysts predict that Western Alliance Bancorporation will post 9.92 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, May 29th. Shareholders of record on Thursday, May 14th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, May 14th. Western Alliance Bancorporation’s payout ratio is presently 19.56%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on WAL shares. TD Cowen cut shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating and set a $83.00 price objective on the stock. in a research report on Monday, March 9th. UBS Group lifted their price objective on shares of Western Alliance Bancorporation from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Wells Fargo & Company upgraded shares of Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $83.00 to $79.00 in a research report on Monday, March 9th. Barclays reduced their price objective on shares of Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Western Alliance Bancorporation from $93.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and a consensus target price of $93.14.

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.