Voya Investment Management LLC Has $45.80 Million Position in Western Alliance Bancorporation (NYSE:WAL)

Voya Investment Management LLC increased its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 64.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 548,213 shares of the financial services provider's stock after purchasing an additional 214,612 shares during the period. Voya Investment Management LLC owned approximately 0.50% of Western Alliance Bancorporation worth $45,798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WAL. SBI Securities Co. Ltd. acquired a new position in shares of Western Alliance Bancorporation in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC raised its stake in Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after acquiring an additional 117 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 136 shares during the period. Allworth Financial LP lifted its holdings in shares of Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 215 shares during the period. Finally, Atala Financial Inc acquired a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at $44,000. Institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Trading Up 1.0 %

NYSE:WAL traded up $0.71 on Monday, hitting $70.41. 716,648 shares of the stock were exchanged, compared to its average volume of 1,217,545. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 0.63 and a beta of 1.29. 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 has a 52 week low of $56.70 and a 52 week high of $98.10. The company's 50-day moving average price is $74.09 and its 200 day moving average price is $83.18.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.01. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. The business had revenue of $790.10 million during the quarter, compared to the consensus estimate of $792.25 million. During the same period in the previous year, the firm posted $1.72 earnings per share. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.16%. Western Alliance Bancorporation's dividend payout ratio is presently 20.85%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WAL. 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 report on Monday, February 3rd. Royal Bank of Canada cut their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Stephens reaffirmed an "overweight" rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Finally, DA Davidson reduced their price objective on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $96.62.

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.