Rockefeller Capital Management L.P. Grows Holdings in Western Alliance Bancorporation $WAL

Rockefeller Capital Management L.P. boosted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 260,229 shares of the financial services provider’s stock after purchasing an additional 19,581 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.24% of Western Alliance Bancorporation worth $21,878,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quadrant Capital Group LLC increased its position in shares of Western Alliance Bancorporation by 1.9% during the fourth quarter. Quadrant Capital Group LLC now owns 6,008 shares of the financial services provider’s stock valued at $505,000 after acquiring an additional 113 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of Western Alliance Bancorporation by 4.6% during the 4th quarter. Ritholtz Wealth Management now owns 3,030 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 133 shares during the last quarter. Truist Financial Corp increased its holdings in Western Alliance Bancorporation by 5.2% during the fourth quarter. Truist Financial Corp now owns 3,102 shares of the financial services provider’s stock valued at $261,000 after buying an additional 152 shares during the last quarter. Allworth Financial LP increased its stake in shares of Western Alliance Bancorporation by 39.3% in the 4th quarter. Allworth Financial LP now owns 557 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 157 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Western Alliance Bancorporation by 6.1% in the fourth quarter. GAMMA Investing LLC now owns 2,732 shares of the financial services provider’s stock worth $230,000 after buying an additional 158 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock opened at $78.73 on Tuesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 0.86. The company has a market capitalization of $8.60 billion, a PE ratio of 9.16, a P/E/G ratio of 0.61 and a beta of 1.34. The company has a 50-day simple moving average of $79.23 and a two-hundred day simple moving average of $81.89. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Tuesday, April 21st. The financial services provider reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.74. Western Alliance Bancorporation had a net margin of 17.03% and a return on equity of 13.58%. The company had revenue of $968.40 million during the quarter, compared to analysts’ expectations of $944.18 million. During the same quarter in the prior year, the company posted $1.79 earnings per share. Western Alliance Bancorporation’s revenue for the quarter was up 31.0% compared to the same quarter last year. Research analysts expect that Western Alliance Bancorporation will post 9.8 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, May 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 19.56%.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $81.00, for a total transaction of $481,626.00. Following the transaction, the chief accounting officer owned 3,485 shares in the company, valued at approximately $282,285. This represents a 63.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.75% of the company’s stock.

Wall Street Analyst Weigh In

WAL has been the subject of a number of analyst reports. Piper Sandler reduced their price objective on shares of Western Alliance Bancorporation from $94.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Barclays reduced their price objective on Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Jefferies Financial Group restated an “overweight” rating and set a $105.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, March 6th. Keefe, Bruyette & Woods increased their price target on Western Alliance Bancorporation from $93.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Finally, DA Davidson reduced their price objective on shares of Western Alliance Bancorporation from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and a consensus target price of $92.93.

About Western Alliance Bancorporation

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.