Western Alliance Bancorporation $WAL Shares Sold by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. lessened its holdings in Western Alliance Bancorporation (NYSE:WAL) by 81.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 405,677 shares of the financial services provider’s stock after selling 1,788,953 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.37% of Western Alliance Bancorporation worth $34,105,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Invesco Ltd. boosted its holdings in shares of Western Alliance Bancorporation by 3.4% in the 3rd quarter. Invesco Ltd. now owns 6,016,027 shares of the financial services provider’s stock valued at $521,710,000 after acquiring an additional 197,854 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Western Alliance Bancorporation by 36.5% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,979,916 shares of the financial services provider’s stock worth $518,578,000 after purchasing an additional 1,599,537 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Western Alliance Bancorporation by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 3,674,518 shares of the financial services provider’s stock valued at $318,655,000 after purchasing an additional 58,535 shares during the period. William Blair Investment Management LLC lifted its position in Western Alliance Bancorporation by 3.5% during the third quarter. William Blair Investment Management LLC now owns 2,394,722 shares of the financial services provider’s stock valued at $207,670,000 after purchasing an additional 81,386 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Western Alliance Bancorporation by 1.6% in the third quarter. Wellington Management Group LLP now owns 2,288,233 shares of the financial services provider’s stock valued at $198,436,000 after purchasing an additional 36,364 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WAL has been the subject of a number of recent research reports. Truist Financial set a $98.00 price objective on Western Alliance Bancorporation in a research note on Friday, January 9th. National Alliance Securities reaffirmed a “buy” rating on shares of Western Alliance Bancorporation in a report on Friday, March 6th. Jefferies Financial Group reissued an “overweight” rating and issued a $105.00 price target on shares of Western Alliance Bancorporation in a report on Friday, March 6th. UBS Group set a $93.00 price objective on shares of Western Alliance Bancorporation and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Finally, DA Davidson decreased their target price on shares of Western Alliance Bancorporation from $105.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.73.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $67.93 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $97.23. The stock has a 50-day moving average of $82.70 and a 200 day moving average of $83.07. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 0.59 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $2.59 EPS 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 $890.80 million during the quarter, compared to analysts’ expectations of $912.69 million. During the same period in the previous year, the business earned $1.95 earnings per share. The business’s revenue was up 17.0% compared to the same quarter last year. Sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were given a dividend of $0.42 per share. The ex-dividend date was Friday, February 20th. This represents a $1.68 dividend on an annualized basis and a yield of 2.5%. Western Alliance Bancorporation’s dividend payout ratio is currently 19.24%.

Western Alliance Bancorporation Company 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.