Janus Henderson Group PLC Buys 74,956 Shares of Western Alliance Bancorporation (NYSE:WAL)

Janus Henderson Group PLC boosted its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,896,377 shares of the financial services provider's stock after purchasing an additional 74,956 shares during the period. Janus Henderson Group PLC owned approximately 1.72% of Western Alliance Bancorporation worth $164,019,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in WAL. Holocene Advisors LP lifted its stake in shares of Western Alliance Bancorporation by 64.4% in the 3rd quarter. Holocene Advisors LP now owns 443,980 shares of the financial services provider's stock worth $38,400,000 after purchasing an additional 173,894 shares during the period. Encompass More Asset Management purchased a new stake in Western Alliance Bancorporation during the third quarter valued at approximately $202,000. Point72 Europe London LLP bought a new position in Western Alliance Bancorporation in the third quarter worth approximately $7,352,000. Captrust Financial Advisors boosted its stake in shares of Western Alliance Bancorporation by 11.2% during the 3rd quarter. Captrust Financial Advisors now owns 7,512 shares of the financial services provider's stock worth $650,000 after acquiring an additional 758 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in shares of Western Alliance Bancorporation by 926.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 174,166 shares of the financial services provider's stock valued at $15,064,000 after acquiring an additional 157,199 shares during the period. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Wedbush lifted their target price on Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an "outperform" rating in a research report on Tuesday, September 24th. Piper Sandler lowered their price objective on Western Alliance Bancorporation from $102.00 to $101.00 and set an "overweight" rating on the stock in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a "hold" rating to a "buy" rating and increased their target price for the stock from $83.00 to $101.00 in a report on Monday, October 7th. JPMorgan Chase & Co. lowered their price target on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating on the stock in a report on Monday, October 21st. Finally, Wells Fargo & Company increased their price objective on shares of Western Alliance Bancorporation from $92.00 to $102.00 and gave the stock an "equal weight" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $93.40.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL traded down $0.40 during midday trading on Thursday, reaching $91.96. 453,341 shares of the stock traded hands, compared to its average volume of 1,278,581. The company's 50 day moving average is $88.28 and its 200 day moving average is $77.37. Western Alliance Bancorporation has a one year low of $53.57 and a one year high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The stock has a market capitalization of $10.12 billion, a PE ratio of 14.19, a P/E/G ratio of 1.46 and a beta of 1.45.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The business had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. On average, equities research analysts anticipate that Western Alliance Bancorporation will post 7.14 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.38 per share. The ex-dividend date was Friday, November 15th. This is an increase from Western Alliance Bancorporation's previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 1.65%. Western Alliance Bancorporation's dividend payout ratio is 23.46%.

Insider Activity

In related news, Director Robert P. Latta sold 2,996 shares of the firm's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the sale, the director now directly owns 4,056 shares in the company, valued at $335,634. This trade represents a 42.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.75% of the company's stock.

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.