Western Alliance Bancorporation $WAL Shares Sold by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. cut its stake in Western Alliance Bancorporation (NYSE:WAL) by 81.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 405,677 shares of the financial services provider’s stock after selling 1,788,953 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Western Alliance Bancorporation were worth $34,105,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WAL. Halbert Hargrove Global Advisors LLC purchased a new stake in Western Alliance Bancorporation during the 3rd quarter worth approximately $26,000. Quent Capital LLC acquired a new stake in shares of Western Alliance Bancorporation in the third quarter worth approximately $26,000. Salomon & Ludwin LLC acquired a new stake in shares of Western Alliance Bancorporation in the third quarter worth approximately $27,000. Root Financial Partners LLC purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth approximately $27,000. Finally, Community Bank N.A. purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth approximately $37,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WAL. Jefferies Financial Group restated an “overweight” rating and issued a $105.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, March 6th. Citigroup reduced their target price on shares of Western Alliance Bancorporation from $107.00 to $103.00 and set a “buy” rating for the company in a research report on Monday, March 9th. Keefe, Bruyette & Woods raised their price target on shares of Western Alliance Bancorporation from $98.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Truist Financial set a $98.00 price objective on shares of Western Alliance Bancorporation in a research note on Friday, January 9th. Finally, National Alliance Securities reiterated a “buy” rating on shares of Western Alliance Bancorporation in a report on Friday, March 6th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and a consensus price target of $97.73.

Western Alliance Bancorporation Stock Up 0.2%

Shares of NYSE:WAL opened at $67.93 on Tuesday. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $97.23. The stock has a market cap of $7.46 billion, a P/E ratio of 7.78, a PEG ratio of 0.59 and a beta of 1.34. The business has a fifty day moving average of $82.70 and a two-hundred day moving average of $83.07. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.83.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.19. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. The firm had revenue of $890.80 million for the quarter, compared to analysts’ expectations of $912.69 million. During the same quarter in the previous year, the company posted $1.95 EPS. The company’s revenue was up 17.0% compared to the same quarter last year. On average, research analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 20th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $1.68 annualized dividend and a dividend yield of 2.5%. Western Alliance Bancorporation’s dividend payout ratio is 19.24%.

About Western Alliance Bancorporation

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.