T. Rowe Price Investment Management Inc. Raises Stake in Western Alliance Bancorporation (NYSE:WAL)

T. Rowe Price Investment Management Inc. grew its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 0.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,577,760 shares of the financial services provider's stock after acquiring an additional 22,942 shares during the period. T. Rowe Price Investment Management Inc. owned about 3.25% of Western Alliance Bancorporation worth $298,887,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Western Alliance Bancorporation during the fourth quarter valued at $109,298,000. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Western Alliance Bancorporation by 55.7% in the 4th 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 buying an additional 648,983 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Western Alliance Bancorporation by 6,342.7% in the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider's stock valued at $44,522,000 after buying an additional 506,778 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Western Alliance Bancorporation by 973.1% in the 4th quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider's stock valued at $35,239,000 after purchasing an additional 382,513 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Western Alliance Bancorporation by 5.1% during the 4th quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider's stock worth $479,207,000 after acquiring an additional 278,041 shares in the last quarter. Institutional investors own 79.15% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WAL shares. JPMorgan Chase & Co. cut their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Barclays reduced their target price on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada lowered their price objective 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. Piper Sandler boosted their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company cut their target price on Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Western Alliance Bancorporation has a consensus rating of "Moderate Buy" and an average target price of $96.62.

Western Alliance Bancorporation Stock Up 0.4 %

WAL stock traded up $0.26 during midday trading on Tuesday, hitting $70.66. The stock had a trading volume of 110,984 shares, compared to its average volume of 1,213,183. The business has a 50-day moving average of $74.09 and a two-hundred day moving average of $83.18. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a 52-week low of $56.70 and a 52-week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $790.10 million during the quarter, compared to analyst estimates of $792.25 million. During the same period in the previous year, the business posted $1.72 earnings per share. As a group, equities research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio (DPR) is 20.85%.

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.