First Trust Advisors LP Has $17.85 Million Position in Western Alliance Bancorporation (NYSE:WAL)

First Trust Advisors LP increased its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,666 shares of the financial services provider's stock after purchasing an additional 6,489 shares during the quarter. First Trust Advisors LP owned approximately 0.19% of Western Alliance Bancorporation worth $17,850,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter worth $26,000. Smartleaf Asset Management LLC increased its holdings in Western Alliance Bancorporation by 56.0% in the 4th 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 in the last quarter. Fifth Third Bancorp raised its position in Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 136 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 215 shares in the last quarter. Finally, Atala Financial Inc bought a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth about $44,000. Institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $69.75 on Friday. The firm has a market capitalization of $7.70 billion, a P/E ratio of 9.82, a P/E/G ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a twelve month low of $56.70 and a twelve month high of $98.10. The company has a fifty day moving average of $74.54 and a 200-day moving average of $83.32. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $790.10 million for the quarter, compared to analyst estimates 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 business earned $1.72 earnings per share. As a group, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.18%. Western Alliance Bancorporation's dividend payout ratio is 20.85%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Stephens reiterated an "overweight" rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Wells Fargo & Company cut their price target on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. DA Davidson decreased their price objective on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday. Royal Bank of Canada cut their target price on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price objective 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 analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $96.62.

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.

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