Alliancebernstein L.P. Grows Position in Western Alliance Bancorporation (NYSE:WAL)

Alliancebernstein L.P. lifted its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 12.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 215,649 shares of the financial services provider's stock after buying an additional 23,374 shares during the period. Alliancebernstein L.P. owned approximately 0.20% of Western Alliance Bancorporation worth $18,015,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. O Shaughnessy Asset Management LLC grew its stake in Western Alliance Bancorporation by 14.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 10,965 shares of the financial services provider's stock valued at $916,000 after purchasing an additional 1,393 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in Western Alliance Bancorporation by 55.7% during the fourth 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 buying an additional 648,983 shares during the period. Schroder Investment Management Group increased its holdings in Western Alliance Bancorporation by 12.8% during the fourth quarter. Schroder Investment Management Group now owns 312,747 shares of the financial services provider's stock worth $26,136,000 after buying an additional 35,508 shares during the last quarter. DnB Asset Management AS raised its position in Western Alliance Bancorporation by 23.8% in the fourth quarter. DnB Asset Management AS now owns 192,687 shares of the financial services provider's stock worth $16,097,000 after acquiring an additional 36,984 shares during the period. Finally, Pictet Asset Management Holding SA grew its position in shares of Western Alliance Bancorporation by 5.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 14,111 shares of the financial services provider's stock valued at $1,179,000 after acquiring an additional 742 shares during the period. 79.15% of the stock is owned by institutional investors.

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Western Alliance Bancorporation Price Performance

Shares of NYSE WAL traded down $0.16 during midday trading on Friday, hitting $63.07. 1,531,256 shares of the company's stock were exchanged, compared to its average volume of 1,214,046. The business's fifty day moving average price is $78.97 and its two-hundred day moving average price is $84.55. The company has a market cap of $6.97 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 0.63 and a beta of 1.29. 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 has a 12-month low of $53.75 and a 12-month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. As a group, research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.41%. Western Alliance Bancorporation's payout ratio is 21.41%.

Analysts Set New Price Targets

WAL has been the topic of a number of research reports. Barclays lowered 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 report on Tuesday. StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. DA Davidson lowered their price objective on Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Wells Fargo & Company cut their target price on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Western Alliance Bancorporation has a consensus rating of "Moderate Buy" and an average price target of $96.40.

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.