Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. reduced its stake in Western Alliance Bancorporation (NYSE:WALFree Report) by 24.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,000 shares of the financial services provider’s stock after selling 38,527 shares during the period. Brown Brothers Harriman & Co. owned 0.11% of Western Alliance Bancorporation worth $8,026,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Western Alliance Bancorporation by 0.8% during the third quarter. Vanguard Group Inc. now owns 10,022,268 shares of the financial services provider’s stock valued at $460,724,000 after purchasing an additional 74,824 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Western Alliance Bancorporation by 3.8% during the third quarter. William Blair Investment Management LLC now owns 3,443,399 shares of the financial services provider’s stock valued at $158,293,000 after purchasing an additional 125,392 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Western Alliance Bancorporation by 50.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,452,203 shares of the financial services provider’s stock valued at $161,339,000 after purchasing an additional 824,636 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Western Alliance Bancorporation by 103.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,725,328 shares of the financial services provider’s stock valued at $113,510,000 after purchasing an additional 876,413 shares during the last quarter. Finally, FMR LLC lifted its stake in Western Alliance Bancorporation by 39.6% during the third quarter. FMR LLC now owns 1,371,939 shares of the financial services provider’s stock valued at $63,068,000 after purchasing an additional 389,327 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CAO J. Kelly Jr. Ardrey sold 1,000 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $64.20, for a total value of $64,200.00. Following the completion of the sale, the chief accounting officer now directly owns 5,636 shares of the company’s stock, valued at approximately $361,831.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.75% of the company’s stock.

Analysts Set New Price Targets

WAL has been the subject of several recent research reports. Royal Bank of Canada cut their target price on shares of Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. Hovde Group started coverage on shares of Western Alliance Bancorporation in a research note on Monday, April 22nd. They set an “outperform” rating and a $75.00 target price for the company. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Truist Financial cut their price target on shares of Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Barclays cut their price target on shares of Western Alliance Bancorporation from $91.00 to $86.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.47.

Read Our Latest Analysis on WAL

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL traded up $0.97 during trading hours on Friday, hitting $63.03. 838,079 shares of the stock were exchanged, compared to its average volume of 686,503. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.87. The company’s 50 day moving average is $61.04 and its 200 day moving average is $60.22. The firm has a market capitalization of $6.94 billion, a P/E ratio of 9.19, a P/E/G ratio of 1.19 and a beta of 1.47. Western Alliance Bancorporation has a one year low of $33.19 and a one year high of $70.23.

Western Alliance Bancorporation (NYSE:WALGet Free Report) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.03. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.77%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. During the same period in the prior year, the firm earned $2.30 EPS. On average, research analysts expect that Western Alliance Bancorporation will post 7.44 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Thursday, May 16th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Wednesday, May 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.57%.

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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