Western Alliance Bancorporation (NYSE:WAL) Shares Purchased by Invesco Ltd.

Invesco Ltd. lifted its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 5.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,736,263 shares of the financial services provider's stock after purchasing an additional 278,041 shares during the period. Invesco Ltd. owned approximately 5.21% of Western Alliance Bancorporation worth $479,207,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WAL. SBI Securities Co. Ltd. acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC boosted its position 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 acquiring an additional 117 shares in the last quarter. Fifth Third Bancorp increased its stake 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 grew its position in shares of 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 buying an additional 215 shares during the last quarter. Finally, Atala Financial Inc acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth about $44,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

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Western Alliance Bancorporation Price Performance

Shares of NYSE WAL traded down $0.16 during trading on Friday, reaching $63.07. The company had a trading volume of 1,531,256 shares, compared to its average volume of 1,214,046. 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 has a twelve month low of $53.75 and a twelve month high of $98.10. The stock has a 50-day moving average price of $78.97 and a two-hundred day moving average price of $84.55. The stock has a market capitalization of $6.97 billion, a PE ratio of 8.88, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued 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 15.49% and a return on equity of 13.14%. As a group, sell-side analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio is presently 21.41%.

Analyst Ratings Changes

Several brokerages recently issued reports on WAL. JPMorgan Chase & Co. dropped their price target 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. DA Davidson decreased their price target on Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. UBS Group began coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a "buy" rating and a $115.00 price objective on the stock. Piper Sandler raised their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, Barclays dropped 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 note on Tuesday. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average 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.