Marshall Wace LLP Cuts Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Marshall Wace LLP decreased its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 969,116 shares of the financial services provider's stock after selling 89,103 shares during the period. Marshall Wace LLP owned approximately 0.88% of Western Alliance Bancorporation worth $80,960,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Invesco Ltd. lifted its stake in shares of Western Alliance Bancorporation by 5.1% in the 4th quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider's stock valued at $479,207,000 after purchasing an additional 278,041 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Western Alliance Bancorporation by 4.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider's stock valued at $157,369,000 after buying an additional 81,238 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Western Alliance Bancorporation by 55.7% in the 4th 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 during the period. Norges Bank purchased a new position in Western Alliance Bancorporation during the 4th quarter valued at about $109,298,000. Finally, Principal Financial Group Inc. boosted its stake in Western Alliance Bancorporation by 18.5% during the fourth quarter. Principal Financial Group Inc. now owns 609,941 shares of the financial services provider's stock worth $50,954,000 after acquiring an additional 95,173 shares in the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Performance

WAL traded down $1.87 during midday trading on Tuesday, reaching $63.01. The company had a trading volume of 511,975 shares, compared to its average volume of 1,205,504. Western Alliance Bancorporation has a 1 year low of $56.70 and a 1 year high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The company has a market cap of $6.96 billion, a P/E ratio of 8.87, a P/E/G ratio of 0.63 and a beta of 1.29. The business has a 50-day moving average of $76.18 and a two-hundred day moving average of $83.76.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued 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 net margin of 15.49% and a return on equity of 13.14%. The business had revenue of $790.10 million for the quarter, compared to the consensus estimate of $792.25 million. During the same quarter in the previous year, the firm earned $1.72 earnings per share. As a group, equities research analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio is currently 21.41%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. 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. Wells Fargo & Company lowered their price target on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. StockNews.com upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Piper Sandler raised 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 report on Monday, February 3rd. Finally, Stephens reaffirmed an "overweight" rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.67.

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.