Western Alliance Bancorporation $WAL Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its holdings in Western Alliance Bancorporation (NYSE:WAL) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,674,518 shares of the financial services provider’s stock after purchasing an additional 58,535 shares during the quarter. Dimensional Fund Advisors LP owned 3.34% of Western Alliance Bancorporation worth $318,655,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Congress Asset Management Co. boosted its stake in shares of Western Alliance Bancorporation by 14.5% during the 3rd quarter. Congress Asset Management Co. now owns 215,419 shares of the financial services provider’s stock worth $18,681,000 after acquiring an additional 27,329 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Western Alliance Bancorporation by 3.5% during the third quarter. William Blair Investment Management LLC now owns 2,394,722 shares of the financial services provider’s stock valued at $207,670,000 after purchasing an additional 81,386 shares during the last quarter. MidWestOne Financial Group Inc. boosted its position in shares of Western Alliance Bancorporation by 42.4% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 36,559 shares of the financial services provider’s stock valued at $3,170,000 after purchasing an additional 10,887 shares during the period. SG Americas Securities LLC boosted its position in shares of Western Alliance Bancorporation by 568.0% in the 3rd quarter. SG Americas Securities LLC now owns 17,355 shares of the financial services provider’s stock valued at $1,505,000 after purchasing an additional 14,757 shares during the period. Finally, Cincinnati Financial Corp purchased a new position in Western Alliance Bancorporation in the 2nd quarter worth about $3,899,000. 79.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WAL has been the subject of several recent analyst reports. DA Davidson raised their target price on shares of Western Alliance Bancorporation from $104.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $105.00 price target (up from $100.00) on shares of Western Alliance Bancorporation in a research report on Wednesday, January 28th. TD Cowen lowered their price objective on shares of Western Alliance Bancorporation from $109.00 to $108.00 and set a “buy” rating on the stock in a research report on Wednesday, January 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Western Alliance Bancorporation in a report on Monday, December 29th. Finally, Truist Financial set a $98.00 target price on Western Alliance Bancorporation in a research report on Friday, January 9th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.73.

Western Alliance Bancorporation Trading Down 1.0%

NYSE WAL opened at $80.75 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $97.23. The firm’s fifty day simple moving average is $88.84 and its 200-day simple moving average is $85.31. The company has a market capitalization of $8.87 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 0.69 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Tuesday, January 27th. The financial services provider reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.19. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.The firm had revenue of $980.90 million for the quarter, compared to the consensus estimate of $912.69 million. During the same quarter in the previous year, the company posted $1.95 earnings per share. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 20th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. Western Alliance Bancorporation’s payout ratio is presently 19.24%.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.