Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,821,065 shares of the financial services provider's stock after selling 59,616 shares during the quarter. Geode Capital Management LLC owned approximately 1.65% of Western Alliance Bancorporation worth $152,179,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in WAL. Franklin Resources Inc. lifted its position in shares of Western Alliance Bancorporation by 16.8% in the fourth quarter. Franklin Resources Inc. now owns 367,985 shares of the financial services provider's stock valued at $30,741,000 after acquiring an additional 53,013 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Western Alliance Bancorporation by 12.2% in the 4th quarter. Alliancebernstein L.P. now owns 215,649 shares of the financial services provider's stock valued at $18,015,000 after purchasing an additional 23,374 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Western Alliance Bancorporation by 14.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 10,965 shares of the financial services provider's stock worth $916,000 after purchasing an additional 1,393 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Western Alliance Bancorporation by 55.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock worth $151,604,000 after buying an additional 648,983 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Western Alliance Bancorporation by 12.8% in the fourth quarter. Schroder Investment Management Group now owns 312,747 shares of the financial services provider's stock valued at $26,136,000 after buying an additional 35,508 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

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Western Alliance Bancorporation Trading Down 0.3 %

WAL traded down $0.16 during mid-day trading on Friday, hitting $63.07. 1,531,256 shares of the stock were exchanged, compared to its average volume of 1,214,046. The company has a market cap of $6.97 billion, a PE ratio of 8.88, a PEG ratio of 0.63 and a beta of 1.29. 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 $78.97 and its two-hundred day moving average is $84.55. 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 earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business 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 of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.41%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 21.41%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WAL shares. StockNews.com raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Piper Sandler lifted their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Stephens reaffirmed an "overweight" rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. UBS Group started coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They set a "buy" rating and a $115.00 price target on the stock. Finally, Barclays cut their price objective on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $96.40.

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.