TCW Group Inc. Raises Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

TCW Group Inc. raised its stake in Western Alliance Bancorporation (NYSE:WAL) by 46.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,099 shares of the financial services provider’s stock after buying an additional 13,119 shares during the quarter. TCW Group Inc.’s holdings in Western Alliance Bancorporation were worth $3,433,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wolverine Asset Management LLC lifted its holdings in shares of Western Alliance Bancorporation by 44.4% in the 4th quarter. Wolverine Asset Management LLC now owns 3,458 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 1,064 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in Western Alliance Bancorporation by 25.0% during the fourth quarter. Handelsbanken Fonder AB now owns 25,960 shares of the financial services provider’s stock worth $2,169,000 after purchasing an additional 5,200 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Western Alliance Bancorporation by 9.3% during the fourth quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider’s stock worth $8,090,000 after purchasing an additional 8,201 shares in the last quarter. Angel Oak Capital Advisors LLC purchased a new position in shares of Western Alliance Bancorporation during the fourth quarter worth $919,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Western Alliance Bancorporation by 86.4% in the fourth quarter. Venturi Wealth Management LLC now owns 5,649 shares of the financial services provider’s stock valued at $472,000 after buying an additional 2,618 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $87.10 on Monday. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. 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 $9.59 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 0.63 and a beta of 1.46. The business’s fifty day moving average price is $86.80 and its 200 day moving average price is $85.87.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates 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, 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.75%. Western Alliance Bancorporation’s payout ratio is currently 21.41%.

Analyst Upgrades and Downgrades

WAL has been the topic of several research reports. StockNews.com lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Monday, February 17th. Piper Sandler raised their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Barclays increased their target price on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, DA Davidson dropped their price target on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Western Alliance Bancorporation has an average rating of “Moderate Buy” and a consensus target price of $98.07.

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.