Rockefeller Capital Management L.P. Increases Position in Western Alliance Bancorporation (NYSE:WAL)

Rockefeller Capital Management L.P. grew its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 34.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,549 shares of the financial services provider's stock after acquiring an additional 59,383 shares during the period. Rockefeller Capital Management L.P. owned 0.21% of Western Alliance Bancorporation worth $19,511,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank bought a new position in Western Alliance Bancorporation during the 4th quarter worth about $109,298,000. Barrow Hanley Mewhinney & Strauss LLC lifted 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 purchasing an additional 648,983 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Western Alliance Bancorporation by 6,342.7% during 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 purchasing an additional 506,778 shares in the last quarter. Bank of Montreal Can increased its holdings in Western Alliance Bancorporation by 973.1% during the fourth quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider's stock valued at $35,239,000 after buying an additional 382,513 shares during the period. Finally, Invesco Ltd. raised its stake in Western Alliance Bancorporation by 5.1% in the fourth quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider's stock worth $479,207,000 after buying an additional 278,041 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Price Performance

WAL traded up $0.90 during midday trading on Friday, hitting $66.14. 986,122 shares of the company traded hands, compared to its average volume of 1,218,813. The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 0.63 and a beta of 1.29. The business has a 50 day simple moving average of $77.06 and a two-hundred day simple moving average of $84.00. 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 52-week low of $53.75 and a 52-week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share 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%. On average, equities analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared 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 2.30%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's payout ratio is 21.41%.

Wall Street Analysts Forecast Growth

WAL has been the topic of a number of analyst reports. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Piper Sandler raised their target price 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. 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 report on Wednesday, April 9th. Finally, DA Davidson lowered their price target on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $96.40.

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.