Corient Private Wealth LLC Trims Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Corient Private Wealth LLC lowered its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 7.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,808 shares of the financial services provider's stock after selling 4,561 shares during the period. Corient Private Wealth LLC owned 0.05% of Western Alliance Bancorporation worth $4,913,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its holdings 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 worth $388,197,000 after purchasing an additional 1,418,472 shares in the last quarter. FMR LLC increased its stake in shares of Western Alliance Bancorporation by 93.3% in the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider's stock worth $241,568,000 after acquiring an additional 1,347,921 shares in the last quarter. Janus Henderson Group PLC lifted its position 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 valued at $164,019,000 after acquiring an additional 74,956 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Western Alliance Bancorporation by 4.5% during the fourth 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 acquiring an additional 81,238 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in 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 purchasing an additional 120,729 shares during the period. Hedge funds and other institutional investors own 79.15% of the company's stock.

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Western Alliance Bancorporation Stock Performance

WAL traded down $0.63 during mid-day trading on Wednesday, reaching $79.93. 587,264 shares of the company traded hands, compared to its average volume of 1,151,596. The stock has a market capitalization of $8.83 billion, a P/E ratio of 11.26, a P/E/G ratio of 0.63 and a beta of 1.43. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. 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 company's fifty day moving average price is $85.04 and its 200-day moving average price is $86.06.

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 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%. On average, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.38 per share. The ex-dividend date was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.90%. Western Alliance Bancorporation's dividend payout ratio (DPR) is 21.41%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WAL shares. UBS Group assumed coverage on shares of Western Alliance Bancorporation in a report on Tuesday, December 17th. They set a "buy" rating and a $115.00 target price for the company. 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 report on Monday, February 3rd. Wells Fargo & Company cut their target price on Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. Stephens reaffirmed an "overweight" rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Finally, StockNews.com raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.