Western Alliance Bancorporation (NYSE:WAL) Position Increased by Hood River Capital Management LLC

Hood River Capital Management LLC raised its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,249,742 shares of the financial services provider's stock after acquiring an additional 44,156 shares during the period. Western Alliance Bancorporation makes up 1.5% of Hood River Capital Management LLC's holdings, making the stock its 12th largest position. Hood River Capital Management LLC owned approximately 1.14% of Western Alliance Bancorporation worth $104,403,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in Western Alliance Bancorporation in the fourth quarter worth about $26,000. Smartleaf Asset Management LLC lifted its stake in shares of 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 acquiring an additional 117 shares during the period. Fifth Third Bancorp boosted its holdings in shares of 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 acquiring an additional 136 shares in the last quarter. Allworth Financial LP increased 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 acquiring an additional 215 shares during the period. Finally, Atala Financial Inc bought a new stake in Western Alliance Bancorporation during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Down 1.5 %

NYSE:WAL traded down $1.05 during trading hours on Friday, hitting $69.75. 810,046 shares of the stock traded hands, compared to its average volume of 1,217,422. The firm has a 50 day moving average price of $74.54 and a 200 day moving average price of $83.34. The firm has a market cap of $7.70 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a fifty-two week low of $56.70 and a fifty-two week high of $98.10. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings results 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. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. The firm had revenue of $790.10 million for the quarter, compared to analyst estimates of $792.25 million. During the same period in the previous year, the firm earned $1.72 earnings per share. Equities research analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's payout ratio is presently 21.41%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WAL shares. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. 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 for the company in a report on Wednesday, April 9th. Stephens reaffirmed an "overweight" rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday. Finally, DA Davidson cut their target price on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $96.62.

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.