Western Alliance Bancorporation $WAL Shares Acquired by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. increased its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 8.1% in the fourth quarter, HoldingsChannel reports. The firm owned 260,229 shares of the financial services provider’s stock after acquiring an additional 19,581 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Western Alliance Bancorporation were worth $21,878,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of WAL. Clearstead Advisors LLC raised its position in Western Alliance Bancorporation by 144.6% during the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock worth $35,000 after buying an additional 243 shares during the last quarter. Community Bank N.A. acquired a new stake in shares of Western Alliance Bancorporation in the third quarter worth $37,000. Los Angeles Capital Management LLC purchased a new position in shares of Western Alliance Bancorporation during the fourth quarter worth $38,000. Leonteq Securities AG purchased a new stake in Western Alliance Bancorporation in the fourth quarter valued at $44,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Western Alliance Bancorporation during the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analyst Upgrades and Downgrades

WAL has been the topic of several analyst reports. Barclays dropped their target price on Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. JPMorgan Chase & Co. lowered their price objective on Western Alliance Bancorporation from $105.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Jefferies Financial Group reaffirmed an “overweight” rating and set a $105.00 target price on shares of Western Alliance Bancorporation in a report on Friday, March 6th. TD Cowen cut shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating and set a $83.00 target price for the company. in a research note on Monday, March 9th. Finally, Wells Fargo & Company raised shares of Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $83.00 to $79.00 in a report on Monday, March 9th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $92.93.

Insider Transactions at Western Alliance Bancorporation

In other news, CAO Ben Mucha sold 5,946 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $81.00, for a total transaction of $481,626.00. Following the completion of the sale, the chief accounting officer owned 3,485 shares of the company’s stock, valued at $282,285. This represents a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.75% of the stock is currently owned by company insiders.

Western Alliance Bancorporation Price Performance

NYSE:WAL opened at $78.73 on Tuesday. The stock has a 50 day moving average of $79.23 and a two-hundred day moving average of $81.89. Western Alliance Bancorporation has a 12 month low of $65.82 and a 12 month high of $97.23. The firm has a market cap of $8.60 billion, a P/E ratio of 9.16, a price-to-earnings-growth ratio of 0.61 and a beta of 1.34. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.74. The business had revenue of $968.40 million for the quarter, compared to the consensus estimate of $944.18 million. Western Alliance Bancorporation had a return on equity of 13.58% and a net margin of 17.03%.The business’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.79 earnings per share. On average, analysts expect that Western Alliance Bancorporation will post 9.8 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were issued a $0.42 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 19.56%.

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.