Western Alliance Bancorporation (NYSE:WAL) Stock Position Reduced by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 49.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,183 shares of the financial services provider's stock after selling 28,419 shares during the period. Russell Investments Group Ltd.'s holdings in Western Alliance Bancorporation were worth $2,438,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in Western Alliance Bancorporation by 2.9% in the third 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 in the last quarter. Sanctuary Advisors LLC increased its position 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 worth $667,000 after buying an additional 3,365 shares during the period. Franklin Resources Inc. lifted its stake in Western Alliance Bancorporation by 17.0% in the third quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider's stock valued at $27,970,000 after buying an additional 45,764 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Western Alliance Bancorporation during the third quarter worth approximately $639,000. Finally, Retirement Systems of Alabama acquired a new position in shares of Western Alliance Bancorporation in the 3rd quarter valued at $11,461,000. Hedge funds and other institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Up 0.7 %

Shares of WAL stock traded up $0.47 during trading hours on Tuesday, reaching $65.35. The company had a trading volume of 2,219,816 shares, compared to its average volume of 1,212,184. The company has a market capitalization of $7.22 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a twelve month low of $56.70 and a twelve month high of $98.10. The stock's fifty day simple moving average is $76.18 and its 200 day simple moving average is $83.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.01. The business had revenue of $790.10 million during the quarter, compared to analyst estimates of $792.25 million. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. During the same period last year, the business earned $1.72 EPS. As a group, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 2.33%. Western Alliance Bancorporation's dividend payout ratio is presently 21.41%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Barclays cut their price target on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Piper Sandler lifted 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. Wells Fargo & Company dropped their price objective on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, DA Davidson reduced 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.67.

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.