Western Alliance Bancorporation (NYSE:WAL) Shares Purchased by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC boosted its position in Western Alliance Bancorporation (NYSE:WAL) by 55.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,814,745 shares of the financial services provider’s stock after acquiring an additional 648,983 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 1.65% of Western Alliance Bancorporation worth $151,604,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in shares of 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 during the last quarter. FMR LLC increased its position 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 last quarter. Janus Henderson Group PLC raised its stake in Western Alliance Bancorporation by 4.1% during 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. boosted its holdings in shares of Western Alliance Bancorporation by 4.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider’s stock valued at $157,369,000 after purchasing an additional 81,238 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Western Alliance Bancorporation by 6.9% during the 3rd 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. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Trading Down 2.3 %

Shares of WAL opened at $76.08 on Friday. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. The stock has a 50-day moving average price of $84.44 and a 200 day moving average price of $85.96. 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 company has a market capitalization of $8.40 billion, a P/E ratio of 10.72, a P/E/G ratio of 0.63 and a beta of 1.43.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share 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%. Sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced 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 was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.00%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.41%.

Wall Street Analyst Weigh In

WAL has been the topic of a number of research analyst reports. Stephens reiterated an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. 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 report on Tuesday, January 7th. Piper Sandler raised their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. StockNews.com upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company cut their target price on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $98.07.

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.