Brown Brothers Harriman & Co. Sells 20,000 Shares of Western Alliance Bancorporation (NYSE:WAL)

Brown Brothers Harriman & Co. trimmed its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 21.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 72,000 shares of the financial services provider's stock after selling 20,000 shares during the period. Brown Brothers Harriman & Co. owned approximately 0.07% of Western Alliance Bancorporation worth $6,015,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. State Street Corp raised its stake in Western Alliance Bancorporation by 46.2% during the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider's stock valued at $388,197,000 after buying an additional 1,418,472 shares during the last quarter. FMR LLC increased its holdings in shares of Western Alliance Bancorporation by 93.3% during the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider's stock valued at $241,568,000 after acquiring an additional 1,347,921 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Western Alliance Bancorporation by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,896,377 shares of the financial services provider's stock worth $164,019,000 after purchasing an additional 74,956 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Western Alliance Bancorporation by 4.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider's stock worth $157,369,000 after purchasing an additional 81,238 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Western Alliance Bancorporation by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,880,681 shares of the financial services provider's stock valued at $162,701,000 after purchasing an additional 120,729 shares during the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WAL shares. UBS Group initiated coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a "buy" rating and a $115.00 target price on the stock. Wells Fargo & Company lowered their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Monday, January 6th. 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. DA Davidson lowered their price target on Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. decreased their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $98.07.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock traded down $10.50 on Thursday, hitting $67.14. 765,418 shares of the company's stock were exchanged, compared to its average volume of 1,166,612. The stock has a market capitalization of $7.42 billion, a PE ratio of 9.46, a PEG ratio of 0.63 and a beta of 1.43. 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 50-day simple moving average of $83.56 and a 200-day simple moving average of $85.90. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping 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, equities analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.26%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio is currently 21.41%.

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.