Sei Investments Co. Sells 5,063 Shares of Western Alliance Bancorporation (NYSE:WAL)

Sei Investments Co. lowered its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 5.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 84,822 shares of the financial services provider's stock after selling 5,063 shares during the period. Sei Investments Co. owned 0.08% of Western Alliance Bancorporation worth $7,086,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Cerity Partners LLC bought a new stake in Western Alliance Bancorporation during the third quarter valued at $463,000. FMR LLC grew its stake in Western Alliance Bancorporation by 93.3% during the third 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. BNP Paribas Financial Markets increased its holdings in Western Alliance Bancorporation by 1,091.8% in the third quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider's stock worth $2,947,000 after purchasing an additional 31,214 shares in the last quarter. Townsquare Capital LLC lifted its stake in Western Alliance Bancorporation by 9.0% in the third quarter. Townsquare Capital LLC now owns 8,484 shares of the financial services provider's stock valued at $734,000 after buying an additional 703 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in shares of Western Alliance Bancorporation by 2,830.3% during the 3rd quarter. MetLife Investment Management LLC now owns 56,350 shares of the financial services provider's stock worth $4,874,000 after buying an additional 54,427 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of research firms recently issued reports on WAL. DA Davidson dropped their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Piper Sandler increased their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price on 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. Stephens reaffirmed an "overweight" rating and issued a $103.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company dropped their target price on 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. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $98.07.

Western Alliance Bancorporation Price Performance

Shares of WAL traded down $12.26 during midday trading on Thursday, hitting $65.39. 4,330,738 shares of the company traded hands, compared to its average volume of 1,178,693. The stock has a 50-day moving average of $83.56 and a 200-day moving average of $85.90. The firm has a market cap of $7.22 billion, a P/E ratio of 9.21, a PEG ratio of 0.63 and a beta of 1.43. 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 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 results 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 net margin of 15.49% and a return on equity of 13.14%. As a group, sell-side analysts predict that Western Alliance Bancorporation will post 9.05 EPS 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. Shareholders of record on Friday, February 14th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation's payout ratio is 21.41%.

About Western Alliance Bancorporation

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.