Western Alliance Bancorporation (NYSE:WAL) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 0.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,719,048 shares of the financial services provider's stock after buying an additional 4,324 shares during the quarter. Vanguard Group Inc. owned 9.74% of Western Alliance Bancorporation worth $895,469,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC acquired a new position in shares of Western Alliance Bancorporation in the third quarter worth about $463,000. The Manufacturers Life Insurance Company raised its position in shares of Western Alliance Bancorporation by 20.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 630,700 shares of the financial services provider's stock valued at $54,549,000 after purchasing an additional 107,275 shares in the last quarter. FMR LLC boosted its stake 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 valued at $241,568,000 after buying an additional 1,347,921 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Western Alliance Bancorporation during the third quarter worth approximately $86,000. Finally, BNP Paribas Financial Markets grew its position in shares of Western Alliance Bancorporation by 1,091.8% during the third quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider's stock worth $2,947,000 after buying an additional 31,214 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

WAL has been the topic of several recent analyst reports. StockNews.com raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Piper Sandler increased their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. Stephens reaffirmed an "overweight" rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lowered their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $98.07.

Western Alliance Bancorporation Stock Performance

Western Alliance Bancorporation stock traded up $0.84 during midday trading on Wednesday, reaching $76.55. 103,828 shares of the stock traded hands, compared to its average volume of 1,163,345. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 0.63 and a beta of 1.43. The firm has a fifty day moving average price of $83.85 and a two-hundred day moving average price of $85.96.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. On average, equities research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio (DPR) 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.