Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. reduced its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 17.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,000 shares of the financial services provider's stock after selling 20,000 shares during the quarter. Brown Brothers Harriman & Co. owned 0.08% of Western Alliance Bancorporation worth $7,957,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of Western Alliance Bancorporation by 20.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider's stock worth $233,832,000 after buying an additional 636,577 shares during the period. William Blair Investment Management LLC raised its stake in Western Alliance Bancorporation by 0.7% during the second quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider's stock valued at $176,764,000 after buying an additional 20,876 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Western Alliance Bancorporation by 10.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,802,505 shares of the financial services provider's stock worth $155,899,000 after purchasing an additional 169,244 shares in the last quarter. Smead Capital Management Inc. grew its holdings in shares of Western Alliance Bancorporation by 3.5% during the third quarter. Smead Capital Management Inc. now owns 1,350,195 shares of the financial services provider's stock valued at $116,778,000 after buying an additional 45,543 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Western Alliance Bancorporation by 13.8% during the 2nd quarter. Marshall Wace LLP now owns 961,412 shares of the financial services provider's stock valued at $60,396,000 after purchasing an additional 116,322 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Piper Sandler reduced their price target on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an "overweight" rating for the company in a research note on Monday, October 21st. Stephens reiterated an "overweight" rating and issued a $102.00 price target on shares of Western Alliance Bancorporation in a research report on Friday, October 18th. Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the company an "outperform" rating in a research note on Friday, October 18th. Truist Financial decreased their price target on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating on the stock in a research note on Monday, October 21st. Finally, Barclays raised their target price on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an "overweight" rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Western Alliance Bancorporation presently has an average rating of "Moderate Buy" and an average target price of $92.73.

Western Alliance Bancorporation Trading Down 1.7 %

WAL traded down $1.63 during mid-day trading on Tuesday, hitting $94.03. 665,170 shares of the stock were exchanged, compared to its average volume of 1,298,935. The company has a market cap of $10.35 billion, a PE ratio of 14.51, a PEG ratio of 1.47 and a beta of 1.44. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm's fifty day moving average is $87.29 and its two-hundred day moving average is $76.14. Western Alliance Bancorporation has a 1-year low of $47.60 and a 1-year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing analysts' consensus estimates of $1.90 by ($0.10). Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. The company had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. Equities analysts forecast that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.38 per share. This is a boost from Western Alliance Bancorporation's previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, November 15th. Western Alliance Bancorporation's payout ratio is 23.46%.

Insider Buying and Selling

In related news, Director Robert P. Latta sold 2,996 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the sale, the director now owns 4,056 shares in the company, valued at $335,634. This represents a 42.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.75% of the company's stock.

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.