Vanguard Group Inc. Has $910.63 Million Stock Holdings in Western Alliance Bancorporation $WAL

Vanguard Group Inc. cut its holdings in Western Alliance Bancorporation (NYSE:WAL) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,500,781 shares of the financial services provider’s stock after selling 136,835 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of Western Alliance Bancorporation worth $910,628,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in Western Alliance Bancorporation by 8.3% during the third quarter. PNC Financial Services Group Inc. now owns 6,813 shares of the financial services provider’s stock worth $591,000 after acquiring an additional 523 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Western Alliance Bancorporation by 5.0% during the third quarter. HighTower Advisors LLC now owns 28,562 shares of the financial services provider’s stock worth $2,477,000 after purchasing an additional 1,355 shares during the period. MidWestOne Financial Group Inc. lifted its position in shares of Western Alliance Bancorporation by 42.4% during the 3rd quarter. MidWestOne Financial Group Inc. now owns 36,559 shares of the financial services provider’s stock valued at $3,170,000 after acquiring an additional 10,887 shares during the period. Caprock Group LLC bought a new stake in Western Alliance Bancorporation during the third quarter worth about $226,000. Finally, MQS Management LLC acquired a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth approximately $227,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $93.28 on Monday. The business’s fifty day moving average is $89.24 and its 200 day moving average is $85.17. The firm has a market cap of $10.27 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 0.79 and a beta of 1.37. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.79 and a current ratio of 0.83. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.19. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.The business had revenue of $980.90 million during the quarter, compared to analyst estimates of $912.69 million. During the same quarter in the previous year, the firm earned $1.95 EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, February 20th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 19.24%.

Wall Street Analyst Weigh In

WAL has been the topic of a number of research analyst reports. Barclays restated an “overweight” rating on shares of Western Alliance Bancorporation in a research report on Monday, February 2nd. DA Davidson lifted their target price on shares of Western Alliance Bancorporation from $104.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. iA Financial set a $101.00 price target on Western Alliance Bancorporation in a report on Wednesday, January 28th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $105.00 target price (up from $100.00) on shares of Western Alliance Bancorporation in a research note on Wednesday, January 28th. Finally, TD Cowen lowered their price objective on shares of Western Alliance Bancorporation from $109.00 to $108.00 and set a “buy” rating on the stock in a report on Wednesday, January 7th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.73.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.