Western Alliance Bancorporation (NYSE:WAL) Stake Trimmed by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its stake in Western Alliance Bancorporation (NYSE:WAL) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,808 shares of the financial services provider’s stock after selling 4,561 shares during the quarter. Corient Private Wealth LLC’s holdings in Western Alliance Bancorporation were worth $4,913,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of WAL. Retirement Systems of Alabama acquired a new stake in Western Alliance Bancorporation during the 3rd quarter worth about $11,461,000. Franklin Resources Inc. boosted its position in Western Alliance Bancorporation by 17.0% during the 3rd quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider’s stock worth $27,970,000 after acquiring an additional 45,764 shares during the period. New York State Common Retirement Fund boosted its position in Western Alliance Bancorporation by 9.3% during the 4th quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider’s stock worth $8,090,000 after acquiring an additional 8,201 shares during the period. BNP Paribas Financial Markets boosted its position in Western Alliance Bancorporation by 1,091.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider’s stock worth $2,947,000 after acquiring an additional 31,214 shares during the period. Finally, Norden Group LLC acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth about $727,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Up 1.0 %

WAL opened at $77.39 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The business has a 50 day moving average price of $85.08 and a 200 day moving average price of $85.96. The firm has a market cap of $8.55 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last issued 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 return on equity of 13.14% and a net margin of 15.49%. Research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio is currently 21.41%.

Wall Street Analyst Weigh In

A number of brokerages have commented on WAL. DA Davidson decreased their price objective on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. UBS Group started coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price objective for the company. Wells Fargo & Company reduced their price target on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Stephens reiterated an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Finally, StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and an average price target 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.