Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 13.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,028,681 shares of the financial services provider's stock after selling 304,224 shares during the quarter. Wellington Management Group LLP owned about 1.84% of Western Alliance Bancorporation worth $169,476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WAL. State Street Corp grew its position in 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 acquiring an additional 1,418,472 shares in the last quarter. Janus Henderson Group PLC increased its stake in 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 buying an additional 74,956 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in Western Alliance Bancorporation by 4.5% in 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 buying an additional 81,238 shares in the last quarter. Geode Capital Management LLC boosted its position in Western Alliance Bancorporation by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,880,681 shares of the financial services provider's stock valued at $162,701,000 after buying an additional 120,729 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Western Alliance Bancorporation by 55.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock valued at $151,604,000 after acquiring an additional 648,983 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

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Western Alliance Bancorporation Stock Performance

Shares of NYSE:WAL traded down $3.32 during trading on Friday, hitting $61.95. 3,244,034 shares of the company traded hands, compared to its average volume of 1,190,226. 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 business's fifty day moving average is $82.44 and its 200-day moving average is $85.62. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 0.63 and a beta of 1.43. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10.

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 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%. As a group, equities analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 2.45%. Western Alliance Bancorporation's dividend payout ratio is presently 21.41%.

Analyst Ratings Changes

WAL has been the subject of a number of analyst reports. StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Piper Sandler increased their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Wells Fargo & Company decreased their price target on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. Stephens reaffirmed an "overweight" rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Finally, DA Davidson reduced their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with 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 price target of $98.07.

Western Alliance Bancorporation 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.