Ethic Inc. Sells 930 Shares of Western Alliance Bancorporation (NYSE:WAL)

Ethic Inc. reduced its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 12.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,513 shares of the financial services provider’s stock after selling 930 shares during the quarter. Ethic Inc.’s holdings in Western Alliance Bancorporation were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in Western Alliance Bancorporation by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,968,526 shares of the financial services provider’s stock worth $498,612,000 after acquiring an additional 154,575 shares during the period. Invesco Ltd. lifted its holdings in Western Alliance Bancorporation by 5.1% during the fourth quarter. Invesco Ltd. now owns 5,736,263 shares of the financial services provider’s stock worth $479,207,000 after acquiring an additional 278,041 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in Western Alliance Bancorporation by 0.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,577,760 shares of the financial services provider’s stock worth $298,887,000 after acquiring an additional 22,942 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in Western Alliance Bancorporation by 4.5% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider’s stock worth $157,369,000 after acquiring an additional 81,238 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Western Alliance Bancorporation by 55.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider’s stock worth $151,604,000 after acquiring an additional 648,983 shares during the period. 79.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WAL has been the topic of a number of recent analyst reports. Piper Sandler lifted their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company lowered their target price on Western Alliance Bancorporation from $95.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Barclays lowered their target price on Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. StockNews.com lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Monday. Finally, DA Davidson lowered their target price on Western Alliance Bancorporation from $106.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Western Alliance Bancorporation has an average rating of “Moderate Buy” and a consensus target price of $96.38.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $78.32 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. Western Alliance Bancorporation has a 52-week low of $56.70 and a 52-week high of $98.10. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.63 and a beta of 1.30. The business’s fifty day moving average is $71.75 and its 200 day moving average is $82.16.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.01. The business had revenue of $790.10 million for the quarter, compared to analyst estimates of $792.25 million. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. During the same period in the prior year, the company earned $1.72 EPS. Research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be paid a $0.38 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.94%. Western Alliance Bancorporation’s dividend payout ratio is currently 20.85%.

Western Alliance Bancorporation Company Profile

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.