Western Alliance Bancorporation (NYSE:WAL) Holdings Decreased by Jennison Associates LLC

Jennison Associates LLC lessened its stake in Western Alliance Bancorporation (NYSE:WAL) by 36.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 402,543 shares of the financial services provider’s stock after selling 230,620 shares during the quarter. Jennison Associates LLC’s holdings in Western Alliance Bancorporation were worth $33,628,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Fifth Third Bancorp lifted its stake in shares of Western Alliance Bancorporation by 70.1% in the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 136 shares during the period. V Square Quantitative Management LLC acquired a new stake in Western Alliance Bancorporation in the third quarter worth approximately $31,000. ORG Wealth Partners LLC bought a new position in Western Alliance Bancorporation during the 3rd quarter valued at $33,000. UMB Bank n.a. increased its position in shares of Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 249 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after buying an additional 187 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

NYSE WAL opened at $86.61 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The firm has a market capitalization of $9.53 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 0.61 and a beta of 1.46. The company has a 50 day simple moving average of $87.73 and a 200-day simple moving average of $84.70. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 9.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on WAL shares. Truist Financial lowered their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Wells Fargo & Company lowered their price objective on shares of 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. JPMorgan Chase & Co. cut their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Piper Sandler lifted their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Stephens reiterated an “overweight” rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Western Alliance Bancorporation has an average rating of “Moderate Buy” and an average target price of $98.07.

Western Alliance Bancorporation 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.