Charles Schwab Investment Management Inc. Reduces Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Charles Schwab Investment Management Inc. decreased its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 969,308 shares of the financial services provider's stock after selling 8,649 shares during the period. Charles Schwab Investment Management Inc. owned about 0.88% of Western Alliance Bancorporation worth $80,976,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WAL. Wealth Enhancement Advisory Services LLC bought a new position in Western Alliance Bancorporation in the 3rd quarter valued at approximately $253,000. US Bancorp DE lifted its stake in Western Alliance Bancorporation by 16.9% in the 3rd quarter. US Bancorp DE now owns 6,458 shares of the financial services provider's stock valued at $559,000 after purchasing an additional 934 shares during the last quarter. Principal Financial Group Inc. lifted its stake 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 purchasing an additional 506,778 shares during the last quarter. Covestor Ltd lifted its stake in Western Alliance Bancorporation by 167.5% in the 3rd quarter. Covestor Ltd now owns 634 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 397 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in Western Alliance Bancorporation in the 3rd quarter valued at approximately $473,000. Institutional investors own 79.15% of the company's stock.

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Western Alliance Bancorporation Stock Down 1.5 %

Shares of NYSE WAL traded down $1.17 during midday trading on Thursday, hitting $74.63. 793,794 shares of the stock traded hands, compared to its average volume of 1,221,487. 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 one year low of $53.75 and a one year high of $98.10. The business has a 50 day moving average price of $85.67 and a two-hundred day moving average price of $86.13. The company has a market cap of $8.24 billion, a PE ratio of 10.51, a P/E/G ratio of 0.63 and a beta of 1.43.

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

Western Alliance Bancorporation Dividend Announcement

The firm 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. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.04%. Western Alliance Bancorporation's dividend payout ratio is presently 21.41%.

Wall Street Analyst Weigh In

WAL has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on shares of 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. DA Davidson decreased their price target on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. UBS Group initiated coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a "buy" rating and a $115.00 price target for the company. Stephens restated an "overweight" rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Finally, Piper Sandler upped 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. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $98.07.

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.