Bank of New York Mellon Corp Lowers Holdings in Western Alliance Bancorporation (NYSE:WAL)

Bank of New York Mellon Corp lessened its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 980,099 shares of the financial services provider's stock after selling 77,400 shares during the quarter. Bank of New York Mellon Corp owned 0.89% of Western Alliance Bancorporation worth $81,877,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WAL. State Street Corp grew its position in Western Alliance Bancorporation by 46.2% in the 3rd quarter. State Street Corp now owns 4,488,345 shares of the financial services provider's stock valued at $388,197,000 after acquiring an additional 1,418,472 shares during the last quarter. FMR LLC lifted its holdings in Western Alliance Bancorporation by 93.3% during the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider's stock valued at $241,568,000 after buying an additional 1,347,921 shares in the last quarter. Principal Financial Group Inc. boosted its position in Western Alliance Bancorporation by 6,342.7% in the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider's stock valued at $44,522,000 after buying an additional 506,778 shares during the period. Point72 Asset Management L.P. bought a new position in Western Alliance Bancorporation in the 3rd quarter worth about $39,230,000. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Western Alliance Bancorporation in the third quarter valued at approximately $38,386,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

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Western Alliance Bancorporation Stock Performance

Shares of NYSE:WAL traded down $2.23 on Thursday, hitting $78.96. 341,599 shares of the company were exchanged, compared to its average volume of 1,183,568. The firm has a market capitalization of $8.72 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 0.63 and a beta of 1.46. 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 1-year low of $53.75 and a 1-year high of $98.10. The stock's 50 day moving average price is $86.65 and its 200 day moving average price is $86.32.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping analysts' consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. Sell-side analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors 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 annualized dividend and a yield of 1.93%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 21.41%.

Analyst Ratings Changes

A number of research firms have recently issued reports on WAL. Stephens reiterated an "overweight" rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. UBS Group started coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a "buy" rating and a $115.00 price target on the stock. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Barclays lifted their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Finally, DA Davidson reduced their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Two equities 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.com, the company has an average rating of "Moderate Buy" and an average target price of $98.07.

Western Alliance Bancorporation 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.