Rockefeller Capital Management L.P. Purchases 157,199 Shares of Western Alliance Bancorporation (NYSE:WAL)

Rockefeller Capital Management L.P. increased its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 926.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,166 shares of the financial services provider's stock after purchasing an additional 157,199 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.16% of Western Alliance Bancorporation worth $15,064,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Infrastructure Capital Advisors LLC bought a new position in Western Alliance Bancorporation in the 3rd quarter valued at $246,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Western Alliance Bancorporation by 0.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 291,174 shares of the financial services provider's stock valued at $25,184,000 after acquiring an additional 1,110 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Western Alliance Bancorporation by 8.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,745 shares of the financial services provider's stock worth $2,054,000 after purchasing an additional 1,855 shares during the period. MetLife Investment Management LLC raised its holdings in Western Alliance Bancorporation by 2,830.3% during the 3rd quarter. MetLife Investment Management LLC now owns 56,350 shares of the financial services provider's stock worth $4,874,000 after purchasing an additional 54,427 shares during the last quarter. Finally, Townsquare Capital LLC lifted its position in Western Alliance Bancorporation by 9.0% during the 3rd quarter. Townsquare Capital LLC now owns 8,484 shares of the financial services provider's stock valued at $734,000 after purchasing an additional 703 shares during the period. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Performance

NYSE WAL traded down $0.40 on Monday, hitting $93.21. 639,238 shares of the stock were exchanged, compared to its average volume of 1,288,751. The company has a market capitalization of $10.26 billion, a PE ratio of 14.38, a P/E/G ratio of 1.47 and a beta of 1.44. 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 business's fifty day moving average is $87.82 and its 200 day moving average is $76.96. Western Alliance Bancorporation has a 52 week low of $53.22 and a 52 week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (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 firm had revenue of $833.10 million during the quarter, compared to analyst estimates of $811.40 million. Research analysts anticipate that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.38 per share. This is an increase from Western Alliance Bancorporation's previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Friday, November 15th. Western Alliance Bancorporation's payout ratio is currently 23.46%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating for the company in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised Western Alliance Bancorporation from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $83.00 to $101.00 in a research note on Monday, October 7th. Barclays increased their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Piper Sandler decreased their target price on Western Alliance Bancorporation from $102.00 to $101.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. Finally, Wells Fargo & Company increased their price target on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $92.73.

Insider Activity at Western Alliance Bancorporation

In related news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the sale, the director now owns 4,056 shares of the company's stock, valued at approximately $335,634. The trade was a 42.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.75% of the stock is owned by company insiders.

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.