Western Alliance Bancorporation (NYSE:WAL) Shares Purchased by TCW Group Inc.

TCW Group Inc. lifted its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 46.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,099 shares of the financial services provider's stock after acquiring an additional 13,119 shares during the period. TCW Group Inc.'s holdings in Western Alliance Bancorporation were worth $3,433,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Retirement Systems of Alabama bought a new position in Western Alliance Bancorporation in the third quarter worth about $11,461,000. Franklin Resources Inc. grew its position in shares of Western Alliance Bancorporation by 17.0% in the 3rd quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider's stock worth $27,970,000 after buying an additional 45,764 shares during the last quarter. Mutual of America Capital Management LLC bought a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth approximately $5,099,000. BNP Paribas Financial Markets lifted its position in 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 valued at $2,947,000 after acquiring an additional 31,214 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in Western Alliance Bancorporation during the third quarter valued at approximately $3,612,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Performance

WAL stock traded down $0.07 during trading on Thursday, hitting $86.15. 1,010,233 shares of the company traded hands, compared to its average volume of 1,208,640. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. The stock's 50-day simple moving average is $86.69 and its 200 day simple moving average is $86.03. The company has a market cap of $9.48 billion, a PE ratio of 12.13, a P/E/G ratio of 0.63 and a beta of 1.46.

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Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. On average, equities analysts expect 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 announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Friday, February 14th. Western Alliance Bancorporation's payout ratio is currently 21.41%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WAL. Stephens reaffirmed an "overweight" rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Piper Sandler boosted their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday. DA Davidson dropped their price target on 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Western Alliance Bancorporation has an average rating of "Moderate Buy" and a consensus target price 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.