WCM Investment Management LLC Trims Holdings in Western Alliance Bancorporation (NYSE:WAL)

WCM Investment Management LLC lowered its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 265,518 shares of the financial services provider's stock after selling 8,510 shares during the quarter. WCM Investment Management LLC owned approximately 0.24% of Western Alliance Bancorporation worth $22,189,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp raised its position in 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 buying an additional 1,418,472 shares during the last quarter. FMR LLC lifted 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 worth $241,568,000 after purchasing an additional 1,347,921 shares during the period. Janus Henderson Group PLC boosted its stake 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 worth $164,019,000 after buying an additional 74,956 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Western Alliance Bancorporation by 6.9% in the third quarter. Geode Capital Management LLC now owns 1,880,681 shares of the financial services provider's stock worth $162,701,000 after acquiring an additional 120,729 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Western Alliance Bancorporation by 10.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,802,505 shares of the financial services provider's stock valued at $155,899,000 after purchasing an additional 169,244 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Price Performance

NYSE WAL traded down $3.53 during trading on Wednesday, hitting $86.06. 944,681 shares of the company's stock were exchanged, compared to its average volume of 1,203,621. The stock's 50 day moving average price is $87.18 and its two-hundred day moving average price is $85.14. 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 company has a market cap of $9.47 billion, a PE ratio of 12.12, a P/E/G ratio of 0.64 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 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%. Research analysts expect that Western Alliance Bancorporation will post 8.99 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company 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. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, February 14th. Western Alliance Bancorporation's payout ratio is 21.41%.

Analysts Set New Price Targets

Several research firms have commented on WAL. JPMorgan Chase & Co. cut their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the company an "outperform" rating in a research note on Friday, October 18th. Truist Financial decreased their price target on Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Monday, October 21st. Wells Fargo & Company dropped their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating on the stock in a report on Monday, January 6th. Finally, StockNews.com raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Saturday. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $98.07.

Western Alliance Bancorporation Company 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.