MetLife Investment Management LLC Acquires 5,103 Shares of Western Alliance Bancorporation (NYSE:WAL)

MetLife Investment Management LLC increased its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,453 shares of the financial services provider's stock after buying an additional 5,103 shares during the quarter. MetLife Investment Management LLC owned about 0.06% of Western Alliance Bancorporation worth $5,134,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its stake in Western Alliance Bancorporation by 2.9% in the 3rd quarter. Barclays PLC now owns 123,412 shares of the financial services provider's stock worth $10,674,000 after purchasing an additional 3,421 shares during the period. Sanctuary Advisors LLC raised its holdings in Western Alliance Bancorporation by 89.5% during the third quarter. Sanctuary Advisors LLC now owns 7,125 shares of the financial services provider's stock valued at $667,000 after buying an additional 3,365 shares in the last quarter. Franklin Resources Inc. grew its holdings in Western Alliance Bancorporation by 17.0% during the third quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider's stock valued at $27,970,000 after purchasing an additional 45,764 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in Western Alliance Bancorporation during the third quarter valued at about $639,000. Finally, Retirement Systems of Alabama bought a new position in Western Alliance Bancorporation in the 3rd quarter worth approximately $11,461,000. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Trading Down 1.5 %

WAL stock traded down $1.05 during mid-day trading on Friday, reaching $69.75. The company's stock had a trading volume of 810,046 shares, compared to its average volume of 1,219,557. The business's 50 day moving average price is $74.54 and its 200 day moving average price is $83.32. The company has a market cap of $7.70 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. 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 12 month low of $56.70 and a 12 month high of $98.10.

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 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $792.25 million. During the same period last year, the company posted $1.72 earnings per share. On average, equities research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued 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 dividend payout ratio is 20.85%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on WAL shares. Piper Sandler upped their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Wells Fargo & Company decreased their price objective on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. DA Davidson cut their price target on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday. Royal Bank of Canada cut their price objective on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday. Finally, StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and an average target price 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.