William Blair Investment Management LLC Lowers Holdings in Western Alliance Bancorporation (NYSE:WAL)

William Blair Investment Management LLC cut its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,565,566 shares of the financial services provider's stock after selling 59,433 shares during the quarter. William Blair Investment Management LLC owned approximately 2.33% of Western Alliance Bancorporation worth $214,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of WAL. State Street Corp boosted its position in Western Alliance Bancorporation by 46.2% during the 3rd 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. FMR LLC boosted its position in shares of 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 valued at $241,568,000 after purchasing an additional 1,347,921 shares in the last quarter. Janus Henderson Group PLC grew its stake in Western Alliance Bancorporation by 4.1% in the third quarter. Janus Henderson Group PLC now owns 1,896,377 shares of the financial services provider's stock worth $164,019,000 after purchasing an additional 74,956 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in Western Alliance Bancorporation by 4.5% in 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 purchasing an additional 81,238 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Western Alliance Bancorporation by 6.9% during the third 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 period. Hedge funds and other institutional investors own 79.15% of the company's stock.

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Analyst Ratings Changes

Several research analysts recently issued reports on WAL shares. 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 note on Monday, January 6th. Stephens reiterated an "overweight" rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. DA Davidson cut 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. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. cut their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Two equities 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, Western Alliance Bancorporation has a consensus rating of "Moderate Buy" and an average target price of $98.07.

Western Alliance Bancorporation Stock Performance

Western Alliance Bancorporation stock traded up $0.78 during trading on Friday, reaching $77.39. The company had a trading volume of 2,011,051 shares, compared to its average volume of 1,157,714. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm's 50-day simple moving average is $85.11 and its 200 day simple moving average is $85.99. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. Sell-side analysts forecast 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. Stockholders of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.96%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 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.