Western Alliance Bancorporation (NYSE:WAL) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 16.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 367,985 shares of the financial services provider's stock after buying an additional 53,013 shares during the quarter. Franklin Resources Inc. owned approximately 0.33% of Western Alliance Bancorporation worth $30,741,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Western Alliance Bancorporation in the 4th quarter worth about $26,000. Smartleaf Asset Management LLC raised its stake in shares of Western Alliance Bancorporation by 56.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after buying an additional 117 shares during the period. Fifth Third Bancorp lifted its position in shares of Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock valued at $28,000 after buying an additional 136 shares in the last quarter. Allworth Financial LP grew its stake in Western Alliance Bancorporation by 115.6% in the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 215 shares during the period. Finally, Atala Financial Inc acquired a new position in Western Alliance Bancorporation during the fourth quarter worth $44,000. Institutional investors and hedge funds own 79.15% of the company's stock.

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Western Alliance Bancorporation Stock Down 9.7 %

NYSE WAL traded down $6.67 on Thursday, hitting $61.87. 320,978 shares of the stock were exchanged, compared to its average volume of 1,206,093. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. The company has a 50-day moving average price of $79.87 and a 200-day moving average price of $84.85. The company has a market cap of $6.83 billion, a PE ratio of 8.74, a PEG ratio of 0.63 and a beta of 1.29. 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 results on Monday, January 27th. The financial services provider reported $1.95 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%. Sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.46%. Western Alliance Bancorporation's dividend payout ratio is currently 21.41%.

Analysts Set New Price Targets

WAL has been the topic of a number of research reports. DA Davidson decreased their price target on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Barclays lowered their price target on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a research report on Tuesday. UBS Group began coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a "buy" rating and a $115.00 target price on the stock. StockNews.com raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. reduced their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $96.40.

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.