TCW Group Inc. Buys Shares of 27,980 Western Alliance Bancorporation (NYSE:WAL)

TCW Group Inc. bought a new stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 27,980 shares of the financial services provider's stock, valued at approximately $2,420,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Western Alliance Bancorporation by 46.2% in the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider's stock valued at $388,197,000 after purchasing an additional 1,418,472 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Western Alliance Bancorporation by 20.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider's stock valued at $233,832,000 after purchasing an additional 636,577 shares during the period. William Blair Investment Management LLC grew its stake in Western Alliance Bancorporation by 0.7% during the 2nd quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider's stock worth $176,764,000 after purchasing an additional 20,876 shares in the last quarter. FMR LLC increased its holdings in 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 period. Finally, Janus Henderson Group PLC raised its position in Western Alliance Bancorporation by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,896,377 shares of the financial services provider's stock valued at $164,019,000 after purchasing an additional 74,956 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Performance

WAL stock traded down $0.67 during trading on Friday, hitting $89.73. The company had a trading volume of 699,393 shares, compared to its average volume of 1,262,780. The firm has a 50-day moving average price of $88.98 and a 200-day moving average price of $78.33. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The firm has a market cap of $9.88 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.43 and a beta of 1.45. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-year high of $98.10.

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

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Western Alliance Bancorporation's previous quarterly dividend of $0.37. Western Alliance Bancorporation's dividend payout ratio (DPR) is 23.46%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WAL. JPMorgan Chase & Co. cut their target price on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a "hold" rating to a "buy" rating and increased their price objective for the company from $83.00 to $101.00 in a research report on Monday, October 7th. Truist Financial decreased their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating for the company in a research report on Monday, October 21st. Wells Fargo & Company increased their target price on Western Alliance Bancorporation from $92.00 to $102.00 and gave the company an "equal weight" rating in a report on Tuesday, December 3rd. Finally, Wedbush upped their price target on Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an "outperform" rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $93.40.

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.