UBS Group AG Has $5.54 Million Position in Western Alliance Bancorporation (NYSE:WAL)

UBS Group AG lowered its holdings in shares of Western Alliance Bancorporation (NYSE:WAL – Get Rating) by 19.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,239 shares of the financial services provider’s stock after selling 20,360 shares during the quarter. UBS Group AG’s holdings in Western Alliance Bancorporation were worth $5,537,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Western Alliance Bancorporation by 5.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 14,481,293 shares of the financial services provider’s stock worth $1,022,379,000 after acquiring an additional 808,692 shares during the period. Vanguard Group Inc. raised its holdings in Western Alliance Bancorporation by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 9,361,098 shares of the financial services provider’s stock valued at $775,286,000 after acquiring an additional 347,525 shares in the last quarter. Wellington Management Group LLP raised its holdings in Western Alliance Bancorporation by 21.5% in the 1st quarter. Wellington Management Group LLP now owns 4,971,314 shares of the financial services provider’s stock valued at $411,724,000 after acquiring an additional 880,430 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Western Alliance Bancorporation by 18.8% in the 2nd quarter. Clearbridge Investments LLC now owns 3,207,019 shares of the financial services provider’s stock valued at $226,416,000 after acquiring an additional 506,706 shares in the last quarter. Finally, State Street Corp raised its holdings in Western Alliance Bancorporation by 4.7% in the 1st quarter. State Street Corp now owns 2,857,144 shares of the financial services provider’s stock valued at $236,629,000 after acquiring an additional 127,683 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WAL has been the subject of several analyst reports. TheStreet raised Western Alliance Bancorporation from a “c+” rating to a “b” rating in a report on Thursday, February 2nd. StockNews.com raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Monday. Stephens lifted their price objective on Western Alliance Bancorporation from $80.00 to $86.00 in a report on Thursday, January 26th. Finally, JPMorgan Chase & Co. decreased their price target on Western Alliance Bancorporation from $89.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $86.75.

Western Alliance Bancorporation Trading Up 0.7 %

Shares of WAL stock opened at $74.31 on Tuesday. The firm has a market capitalization of $8.15 billion, a P/E ratio of 7.66, a P/E/G ratio of 0.69 and a beta of 1.43. Western Alliance Bancorporation has a twelve month low of $54.86 and a twelve month high of $94.57. The company has a quick ratio of 0.98, a current ratio of 1.00 and a debt-to-equity ratio of 1.42. The stock’s fifty day simple moving average is $68.01 and its 200 day simple moving average is $69.22.

Western Alliance Bancorporation (NYSE:WAL – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $2.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.67. The business had revenue of $701.20 million for the quarter, compared to analyst estimates of $733.13 million. Western Alliance Bancorporation had a return on equity of 22.00% and a net margin of 34.94%. Western Alliance Bancorporation’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.32 EPS. As a group, sell-side analysts predict that Western Alliance Bancorporation will post 10.34 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 3rd. Investors of record on Friday, February 17th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Thursday, February 16th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 14.85%.

Insider Transactions at Western Alliance Bancorporation

In other news, insider Tim R. Bruckner sold 1,750 shares of the stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $73.16, for a total value of $128,030.00. Following the completion of the sale, the insider now directly owns 20,244 shares of the company’s stock, valued at $1,481,051.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.57% of the company’s stock.

About Western Alliance Bancorporation

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Western Alliance Bancorp is a bank holding company, which engages in the provision of deposit, lending, treasury management, international banking, and online banking products and services. It operates through the following business segments: Commercial, Consumer Related, and Corporate and Other. The Commercial segment focuses on delivering commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry.