Brown Brothers Harriman & Co. Has $6.02 Million Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Brown Brothers Harriman & Co. lessened its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 21.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 72,000 shares of the financial services provider’s stock after selling 20,000 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Western Alliance Bancorporation were worth $6,015,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC bought a new position in shares of Western Alliance Bancorporation during the 3rd quarter valued at about $463,000. FMR LLC lifted its stake in Western Alliance Bancorporation by 93.3% in the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock valued at $241,568,000 after buying an additional 1,347,921 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Western Alliance Bancorporation by 1,091.8% in the third quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider’s stock valued at $2,947,000 after buying an additional 31,214 shares during the period. Townsquare Capital LLC increased its position in shares of Western Alliance Bancorporation by 9.0% during the third quarter. Townsquare Capital LLC now owns 8,484 shares of the financial services provider’s stock worth $734,000 after acquiring an additional 703 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of Western Alliance Bancorporation by 2,830.3% during the third quarter. MetLife Investment Management LLC now owns 56,350 shares of the financial services provider’s stock worth $4,874,000 after acquiring an additional 54,427 shares during the period. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Trading Down 2.3 %

Shares of NYSE:WAL opened at $76.08 on Friday. The company has a 50-day simple moving average of $84.44 and a 200 day simple moving average of $85.96. The company has a market capitalization of $8.40 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. 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 issued its earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping 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%. Sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders 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 dividend yield of 2.00%. Western Alliance Bancorporation’s dividend payout ratio is currently 21.41%.

Analyst Upgrades and Downgrades

WAL has been the subject of a number of research analyst reports. Piper Sandler increased their target price on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Stephens reiterated an “overweight” rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Wells Fargo & Company reduced their price target on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. StockNews.com upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, DA Davidson reduced their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Two 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 company currently has an average rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Company 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.