Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC reduced its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 3.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 206,297 shares of the financial services provider’s stock after selling 7,457 shares during the period. Kennedy Capital Management LLC owned approximately 0.19% of Western Alliance Bancorporation worth $17,234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in WAL. Treasurer of the State of North Carolina raised its holdings in shares of Western Alliance Bancorporation by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 47,210 shares of the financial services provider’s stock worth $3,944,000 after purchasing an additional 300 shares during the last quarter. Capital Fund Management S.A. boosted its position in Western Alliance Bancorporation by 139.0% during the fourth quarter. Capital Fund Management S.A. now owns 87,846 shares of the financial services provider’s stock worth $7,339,000 after acquiring an additional 51,085 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Western Alliance Bancorporation during the fourth quarter worth about $2,695,000. Shelton Capital Management acquired a new position in Western Alliance Bancorporation in the 4th quarter valued at about $344,000. Finally, Invesco Ltd. boosted its holdings in Western Alliance Bancorporation by 5.1% in the 4th quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider’s stock valued at $479,207,000 after purchasing an additional 278,041 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WAL has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased 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. Stephens reiterated an “overweight” rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. StockNews.com raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Piper Sandler lifted their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, UBS Group initiated coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.40.

Western Alliance Bancorporation Price Performance

WAL opened at $68.48 on Thursday. The company has a 50-day moving average of $79.87 and a 200-day moving average of $84.85. The company has a market capitalization of $7.56 billion, a P/E ratio of 9.65, a PEG ratio of 0.63 and a beta of 1.29. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-year high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS 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%. Equities analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation’s payout ratio is 21.41%.

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.