Salzhauer Michael Sells 58,297 Shares of Western Alliance Bancorporation (NYSE:WAL)

Salzhauer Michael decreased its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 76.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 17,895 shares of the financial services provider's stock after selling 58,297 shares during the period. Western Alliance Bancorporation comprises 0.5% of Salzhauer Michael's portfolio, making the stock its 27th biggest position. Salzhauer Michael's holdings in Western Alliance Bancorporation were worth $1,495,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in shares of Western Alliance Bancorporation by 46.2% during the 3rd quarter. State Street Corp now owns 4,488,345 shares of the financial services provider's stock worth $388,197,000 after purchasing an additional 1,418,472 shares during the last quarter. FMR LLC increased its position in shares of Western Alliance Bancorporation by 93.3% during the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider's stock worth $241,568,000 after purchasing an additional 1,347,921 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Western Alliance Bancorporation by 4.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,896,377 shares of the financial services provider's stock worth $164,019,000 after purchasing an additional 74,956 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Western Alliance Bancorporation by 4.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider's stock worth $157,369,000 after purchasing an additional 81,238 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Western Alliance Bancorporation by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,880,681 shares of the financial services provider's stock worth $162,701,000 after purchasing an additional 120,729 shares during the last quarter. Institutional investors own 79.15% of the company's stock.

Analyst Ratings Changes

WAL has been the topic of several recent analyst reports. Royal Bank of Canada set a $99.00 price target on Western Alliance Bancorporation and gave the stock an "outperform" rating in a research report on Friday, October 18th. UBS Group initiated coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a "buy" rating and a $115.00 price target on the stock. Piper Sandler boosted their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. DA Davidson lowered their price target on Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Finally, Barclays boosted their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $98.07.

Western Alliance Bancorporation Stock Performance

WAL traded up $1.18 during trading on Thursday, hitting $87.21. The stock had a trading volume of 700,185 shares, compared to its average volume of 1,186,258. The company has a 50 day moving average price of $87.05 and a 200-day moving average price of $85.15. The firm has a market cap of $9.60 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 0.64 and a beta of 1.46. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. As a group, research analysts predict that Western Alliance Bancorporation will post 8.99 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.74%. Western Alliance Bancorporation's payout ratio is 21.41%.

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.