Rhumbline Advisers Buys 1,352 Shares of Western Alliance Bancorporation (NYSE:WAL)

Rhumbline Advisers increased its stake in Western Alliance Bancorporation (NYSE:WAL) by 0.4% in the fourth quarter, HoldingsChannel reports. The fund owned 301,937 shares of the financial services provider’s stock after purchasing an additional 1,352 shares during the period. Rhumbline Advisers’ holdings in Western Alliance Bancorporation were worth $25,224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp grew its stake in shares of Western Alliance Bancorporation by 46.2% in the 3rd quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock worth $388,197,000 after buying an additional 1,418,472 shares during the last quarter. FMR LLC grew its stake in shares of Western Alliance Bancorporation by 93.3% in the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock worth $241,568,000 after buying an additional 1,347,921 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Western Alliance Bancorporation by 6,342.7% in the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock worth $44,522,000 after buying an additional 506,778 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Western Alliance Bancorporation during the 3rd quarter valued at $39,230,000. Finally, Westfield Capital Management Co. LP purchased a new stake in Western Alliance Bancorporation during the 3rd quarter valued at $38,386,000. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

Shares of Western Alliance Bancorporation stock opened at $93.10 on Thursday. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. The stock’s fifty day moving average is $86.82 and its 200 day moving average is $85.51. The stock has a market cap of $10.25 billion, a P/E ratio of 13.11, a P/E/G ratio of 0.62 and a beta of 1.46. 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 (NYSE:WAL) last announced its earnings results on Monday, January 27th. The financial services provider reported $1.95 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%. Sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.63%. Western Alliance Bancorporation’s dividend payout ratio is presently 21.41%.

Analyst Ratings Changes

WAL has been the topic of several recent analyst reports. Barclays increased their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. StockNews.com downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Monday. 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. Stephens reiterated an “overweight” rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Finally, 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.07.

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.