Vaughan Nelson Investment Management L.P. Buys New Holdings in Western Alliance Bancorporation (NYSE:WAL)

Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Western Alliance Bancorporation (NYSE:WALFree Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 848,915 shares of the financial services provider’s stock, valued at approximately $39,025,000. Vaughan Nelson Investment Management L.P. owned 0.78% of Western Alliance Bancorporation as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. William Blair Investment Management LLC increased its holdings in shares of Western Alliance Bancorporation by 80.1% in the second quarter. William Blair Investment Management LLC now owns 3,318,007 shares of the financial services provider’s stock worth $121,008,000 after buying an additional 1,476,194 shares during the period. State Street Corp increased its holdings in shares of Western Alliance Bancorporation by 44.4% in the first quarter. State Street Corp now owns 4,056,477 shares of the financial services provider’s stock worth $144,167,000 after buying an additional 1,246,855 shares during the period. Norges Bank purchased a new position in shares of Western Alliance Bancorporation in the fourth quarter worth about $68,940,000. Barclays PLC increased its holdings in shares of Western Alliance Bancorporation by 489.0% in the third quarter. Barclays PLC now owns 1,333,881 shares of the financial services provider’s stock worth $61,320,000 after buying an additional 1,107,431 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Western Alliance Bancorporation in the first quarter worth about $32,430,000. Institutional investors own 72.04% of the company’s stock.

Western Alliance Bancorporation Price Performance

Shares of Western Alliance Bancorporation stock traded up $2.51 during trading on Friday, reaching $61.44. 1,027,936 shares of the stock traded hands, compared to its average volume of 1,705,013. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 9.30 and a beta of 1.50. The business has a fifty day simple moving average of $62.53 and a two-hundred day simple moving average of $52.69. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.00 and a quick ratio of 0.97. Western Alliance Bancorporation has a 52-week low of $7.46 and a 52-week high of $76.90.

Western Alliance Bancorporation (NYSE:WALGet Free Report) last issued its quarterly earnings data on Friday, January 26th. The financial services provider reported $1.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.02). The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $705.97 million. Western Alliance Bancorporation had a net margin of 16.74% and a return on equity of 16.65%. During the same quarter in the previous year, the business earned $2.67 EPS. Sell-side analysts expect that Western Alliance Bancorporation will post 7.94 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 16th will be given a $0.37 dividend. The ex-dividend date is Thursday, February 15th. This represents a $1.48 annualized dividend and a yield of 2.41%. Western Alliance Bancorporation’s dividend payout ratio is currently 22.63%.

Analysts Set New Price Targets

Several analysts recently issued reports on WAL shares. Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, October 20th. Royal Bank of Canada raised their target price on Western Alliance Bancorporation from $74.00 to $78.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. StockNews.com cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd. Piper Sandler cut their price objective on Western Alliance Bancorporation from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Monday, October 23rd. Finally, Truist Financial boosted their price objective on shares of Western Alliance Bancorporation from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.56.

Get Our Latest Stock Report on WAL

Insider Buying and Selling

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 5,370 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $56.07, for a total value of $301,095.90. Following the completion of the sale, the director now owns 2,996 shares of the company’s stock, valued at $167,985.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.51% of the stock is currently owned by company insiders.

Western Alliance Bancorporation Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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