Loomis Sayles & Co. L P Increases Stake in Western Alliance Bancorporation (NYSE:WAL)

Loomis Sayles & Co. L P grew its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 116.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 405,382 shares of the financial services provider's stock after buying an additional 218,219 shares during the quarter. Loomis Sayles & Co. L P owned 0.37% of Western Alliance Bancorporation worth $33,866,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC grew its stake in Western Alliance Bancorporation by 3.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider's stock valued at $260,000 after purchasing an additional 114 shares during the period. Smartleaf Asset Management LLC grew its position in Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock valued at $27,000 after buying an additional 117 shares during the period. Fifth Third Bancorp increased its holdings in Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after buying an additional 136 shares during the last quarter. Versant Capital Management Inc raised its position in Western Alliance Bancorporation by 13.4% in the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider's stock worth $111,000 after acquiring an additional 157 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Western Alliance Bancorporation by 1.0% in the fourth quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider's stock valued at $1,359,000 after acquiring an additional 163 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating for the company in a research note on Monday, January 6th. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. DA Davidson reduced their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Piper Sandler upped their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price objective 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. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $98.07.

Western Alliance Bancorporation Stock Down 1.4 %

Shares of WAL stock traded down $1.05 during mid-day trading on Tuesday, hitting $75.78. The company's stock had a trading volume of 189,728 shares, compared to its average volume of 1,164,300. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 0.63 and a beta of 1.43. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The business has a 50-day moving average price of $84.18 and a 200 day moving average price of $86.00.

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 earnings per share (EPS) for the quarter, beating 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%. Research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company 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 2.01%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 21.41%.

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.