Western Alliance Bancorporation (NYSE:WAL) Stock Position Lifted by Miller Value Partners LLC

Miller Value Partners LLC grew its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 141,110 shares of the financial services provider's stock after purchasing an additional 8,165 shares during the quarter. Western Alliance Bancorporation makes up 5.0% of Miller Value Partners LLC's holdings, making the stock its 8th biggest holding. Miller Value Partners LLC owned approximately 0.13% of Western Alliance Bancorporation worth $11,788,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC increased its position 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 valued at $10,674,000 after acquiring an additional 3,421 shares during the period. Franklin Resources Inc. boosted its stake in shares of Western Alliance Bancorporation by 17.0% in the 3rd 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 acquired a new stake in shares of Western Alliance Bancorporation during the third quarter worth $639,000. Retirement Systems of Alabama bought a new position in Western Alliance Bancorporation during the third quarter worth $11,461,000. Finally, Principal Financial Group Inc. lifted its holdings in Western Alliance Bancorporation by 6,342.7% in the third quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider's stock valued at $44,522,000 after buying an additional 506,778 shares during the period. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Trading Up 0.8 %

Shares of WAL stock traded up $0.55 during mid-day trading on Tuesday, reaching $70.95. The stock had a trading volume of 713,835 shares, compared to its average volume of 1,294,560. The firm has a market capitalization of $7.84 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. The stock's 50-day moving average price is $74.09 and its two-hundred day moving average price is $83.18. Western Alliance Bancorporation has a 52-week low of $56.70 and a 52-week high of $98.10. 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 (NYSE:WAL - Get Free Report) last released its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share 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 firm had revenue of $790.10 million for the quarter, compared to the consensus estimate of $792.25 million. During the same period in the prior year, the firm earned $1.72 EPS. Equities analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed 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 yield of 2.14%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's payout ratio is 20.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WAL. Stephens reissued an "overweight" rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their target price 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. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Barclays reduced their price objective on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Piper Sandler raised their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Western Alliance Bancorporation currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.62.

Western Alliance Bancorporation 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.