Barclays PLC Boosts Holdings in Western Alliance Bancorporation (NYSE:WAL)

Barclays PLC boosted its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 167.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 329,603 shares of the financial services provider's stock after purchasing an additional 206,191 shares during the quarter. Barclays PLC owned about 0.30% of Western Alliance Bancorporation worth $27,536,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its position in Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after purchasing an additional 117 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after purchasing an additional 136 shares during the period. Allworth Financial LP boosted its holdings in shares of Western Alliance Bancorporation by 115.6% in the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock worth $37,000 after buying an additional 215 shares during the last quarter. Finally, Atala Financial Inc purchased a new stake in Western Alliance Bancorporation during the fourth quarter worth about $44,000. 79.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WAL. Stephens restated an "overweight" rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Piper Sandler boosted their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Finally, Barclays reduced their price target on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.67.

Western Alliance Bancorporation Trading Up 0.7 %

WAL stock traded up $0.47 during trading on Tuesday, hitting $65.35. 2,219,816 shares of the company traded hands, compared to its average volume of 1,212,184. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. Western Alliance Bancorporation has a 1 year low of $56.70 and a 1 year high of $98.10. The firm has a market capitalization of $7.22 billion, a PE ratio of 9.20, a P/E/G ratio of 0.63 and a beta of 1.29. The company has a 50-day moving average of $76.18 and a 200-day moving average of $83.76.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.01. The business had revenue of $790.10 million during the quarter, compared to analysts' expectations of $792.25 million. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. During the same quarter in the prior year, the company posted $1.72 EPS. Analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation's 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.