Exchange Traded Concepts LLC Sells 4,103 Shares of Western Alliance Bancorporation (NYSE:WAL)

Exchange Traded Concepts LLC reduced its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 21.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,049 shares of the financial services provider's stock after selling 4,103 shares during the quarter. Exchange Traded Concepts LLC's holdings in Western Alliance Bancorporation were worth $1,257,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Retirement Systems of Alabama bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth $11,461,000. Franklin Resources Inc. increased its holdings in Western Alliance Bancorporation by 17.0% during the third quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider's stock worth $27,970,000 after buying an additional 45,764 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in Western Alliance Bancorporation in the third quarter worth about $5,099,000. BNP Paribas Financial Markets grew its position in shares of Western Alliance Bancorporation by 1,091.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider's stock valued at $2,947,000 after acquiring an additional 31,214 shares during the period. Finally, nVerses Capital LLC purchased a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth approximately $623,000. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL traded down $4.77 on Tuesday, hitting $89.23. The company's stock had a trading volume of 2,617,183 shares, compared to its average volume of 1,361,422. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The company has a 50-day simple moving average of $88.13 and a 200 day simple moving average of $84.11. The company has a market capitalization of $9.82 billion, a PE ratio of 13.77, a PEG ratio of 0.88 and a beta of 1.46. 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 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 net margin of 14.66% and a return on equity of 13.16%. Sell-side analysts forecast that Western Alliance Bancorporation will post 7.11 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Friday, November 15th. This is a boost from Western Alliance Bancorporation's previous quarterly dividend of $0.37. Western Alliance Bancorporation's dividend payout ratio is currently 23.46%.

Analyst Ratings Changes

WAL has been the topic of several research analyst reports. Truist Financial dropped their price objective on 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. UBS Group began coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a "buy" rating and a $115.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Barclays upped their price objective 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. Finally, Wells Fargo & Company reduced their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating for the company in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $94.38.

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.