Western Alliance Bancorporation (NYSE:WAL) Stake Cut by Corient Private Wealth LLC

Corient Private Wealth LLC cut its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 7.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,808 shares of the financial services provider’s stock after selling 4,561 shares during the quarter. Corient Private Wealth LLC owned 0.05% of Western Alliance Bancorporation worth $4,913,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in Western Alliance Bancorporation during the fourth quarter worth $26,000. Smartleaf Asset Management LLC lifted its stake in Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 117 shares during the last quarter. Fifth Third Bancorp lifted its stake in Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 136 shares during the last quarter. Allworth Financial LP lifted its stake in Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 215 shares during the last quarter. Finally, Atala Financial Inc bought a new stake in Western Alliance Bancorporation in the fourth quarter valued at $44,000. 79.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WAL shares. JPMorgan Chase & Co. cut their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. UBS Group started coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a “buy” rating and a $115.00 target price on the stock. DA Davidson cut their target price on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Wells Fargo & Company cut their target price on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $98.07.

Western Alliance Bancorporation Price Performance

NYSE:WAL opened at $77.39 on Friday. The business’s 50-day moving average price is $85.08 and its 200 day moving average price is $85.96. The firm has a market cap of $8.55 billion, a P/E ratio of 10.90, a PEG ratio of 0.63 and a beta of 1.43. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. As a group, sell-side analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.96%. Western Alliance Bancorporation’s dividend payout ratio is currently 21.41%.

Western Alliance Bancorporation 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.