WCM Investment Management LLC Trims Holdings in Western Alliance Bancorporation (NYSE:WAL)

WCM Investment Management LLC lowered its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 3.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 265,518 shares of the financial services provider’s stock after selling 8,510 shares during the period. WCM Investment Management LLC’s holdings in Western Alliance Bancorporation were worth $22,189,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp lifted its position in Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 136 shares during the period. V Square Quantitative Management LLC bought a new position in Western Alliance Bancorporation during the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new stake in Western Alliance Bancorporation in the third quarter worth $33,000. UMB Bank n.a. increased its holdings in shares of Western Alliance Bancorporation by 136.8% during the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 249 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Down 0.8 %

NYSE WAL opened at $89.87 on Friday. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. 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 stock has a market cap of $9.89 billion, a PE ratio of 12.66, a P/E/G ratio of 0.64 and a beta of 1.46. The stock’s 50 day moving average is $87.36 and its 200 day moving average is $84.92.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results 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 net margin of 15.49% and a return on equity of 13.14%. Research analysts predict that Western Alliance Bancorporation will post 8.99 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.69%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.41%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. UBS Group began coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 target price for the company. Piper Sandler increased their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada set a $99.00 target price on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Truist Financial decreased their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Western Alliance Bancorporation has an average rating of “Moderate Buy” and an average 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.