Advisory Research Inc. Grows Position in Western Alliance Bancorporation (NYSE:WAL)

Advisory Research Inc. boosted its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 52.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,029 shares of the financial services provider's stock after buying an additional 52,440 shares during the period. Western Alliance Bancorporation makes up approximately 2.1% of Advisory Research Inc.'s investment portfolio, making the stock its 13th largest position. Advisory Research Inc. owned about 0.14% of Western Alliance Bancorporation worth $12,700,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Retirement Systems of Alabama acquired a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth $11,461,000. Franklin Resources Inc. increased its position 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 worth $27,970,000 after purchasing an additional 45,764 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Western Alliance Bancorporation by 9.3% during the fourth quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider's stock worth $8,090,000 after buying an additional 8,201 shares during the last quarter. Norden Group LLC bought a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at $727,000. Finally, Generate Investment Management Ltd boosted its holdings 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 valued at $34,842,000 after acquiring an additional 2,772 shares in the last quarter. Institutional investors own 79.15% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on WAL shares. Wells Fargo & Company cut their price target on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Piper Sandler lifted 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. JPMorgan Chase & Co. reduced their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. StockNews.com upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Barclays cut their price target 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. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.67.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock traded down $0.68 during mid-day trading on Tuesday, hitting $64.20. 589,901 shares of the stock were exchanged, compared to its average volume of 1,205,930. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The company has a market capitalization of $7.09 billion, a P/E ratio of 9.04, a P/E/G ratio of 0.63 and a beta of 1.29. The company has a 50-day simple moving average of $76.18 and a 200 day simple moving average of $83.76. Western Alliance Bancorporation has a 12 month low of $56.70 and a 12 month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $790.10 million during the quarter, compared to analyst estimates of $792.25 million. During the same quarter last year, the business posted $1.72 EPS. Sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.37%. Western Alliance Bancorporation's dividend payout ratio is 21.41%.

About Western Alliance Bancorporation

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.