Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its holdings in Western Alliance Bancorporation (NYSE:WAL) by 4.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 123,403 shares of the financial services provider’s stock after selling 5,583 shares during the period. Corebridge Financial Inc.’s holdings in Western Alliance Bancorporation were worth $10,309,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Congress Wealth Management LLC DE raised its stake in shares of Western Alliance Bancorporation by 17.1% in the 4th quarter. Congress Wealth Management LLC DE now owns 30,437 shares of the financial services provider’s stock valued at $2,543,000 after acquiring an additional 4,439 shares during the period. LPL Financial LLC lifted its stake in shares of Western Alliance Bancorporation by 7.5% during the fourth quarter. LPL Financial LLC now owns 146,303 shares of the financial services provider’s stock worth $12,222,000 after purchasing an additional 10,245 shares in the last quarter. Harbor Advisors LLC boosted its position in shares of Western Alliance Bancorporation by 40.0% in the fourth quarter. Harbor Advisors LLC now owns 7,000 shares of the financial services provider’s stock worth $585,000 after buying an additional 2,000 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at about $1,771,000. Finally, American Century Companies Inc. raised its holdings in shares of Western Alliance Bancorporation by 1.1% during the 4th quarter. American Century Companies Inc. now owns 364,320 shares of the financial services provider’s stock valued at $30,435,000 after buying an additional 4,057 shares during the period. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WAL shares. DA Davidson lowered their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price target on shares of 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. Stephens reissued an “overweight” rating and issued a $103.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. UBS Group assumed coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price objective on the stock. Finally, StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.07.

Western Alliance Bancorporation Trading Down 0.8 %

NYSE:WAL opened at $79.93 on Thursday. The firm has a market capitalization of $8.83 billion, a P/E ratio of 11.26, a P/E/G ratio of 0.63 and a beta of 1.43. The business has a 50 day simple moving average of $84.89 and a 200 day simple moving average of $86.02. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. Equities research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.41%.

About Western Alliance Bancorporation

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.