Xponance Inc. Trims Position in Western Alliance Bancorporation (NYSE:WAL)

Xponance Inc. trimmed its stake in Western Alliance Bancorporation (NYSE:WAL) by 1.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,394 shares of the financial services provider’s stock after selling 223 shares during the period. Xponance Inc.’s holdings in Western Alliance Bancorporation were worth $1,035,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Western Alliance Bancorporation by 46.2% in the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock valued at $388,197,000 after purchasing an additional 1,418,472 shares during the period. FMR LLC grew its position in shares of Western Alliance Bancorporation by 93.3% during 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 in the last quarter. Principal Financial Group Inc. grew its position in shares of Western Alliance Bancorporation by 6,342.7% during 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 in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Western Alliance Bancorporation in the third quarter valued at about $39,230,000. Finally, Westfield Capital Management Co. LP purchased a new stake in Western Alliance Bancorporation in the third quarter worth about $38,386,000. 79.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on WAL. DA Davidson cut their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Stephens reissued an “overweight” rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. JPMorgan Chase & Co. lowered their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Wells Fargo & Company dropped 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 report on Monday, January 6th. Finally, StockNews.com raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and a consensus price target of $98.07.

Western Alliance Bancorporation Trading Up 1.0 %

NYSE:WAL opened at $77.39 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $85.08 and a 200-day simple moving average of $86.04. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The company has a market capitalization of $8.55 billion, a P/E ratio of 10.90, a PEG ratio of 0.63 and a beta of 1.43.

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

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.96%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 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.