Balyasny Asset Management L.P. Has $68.60 Million Position in Western Alliance Bancorporation (NYSE:WAL)

Balyasny Asset Management L.P. trimmed its stake in shares of Western Alliance Bancorporation (NYSE:WALFree Report) by 18.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,042,728 shares of the financial services provider’s stock after selling 235,721 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.95% of Western Alliance Bancorporation worth $68,601,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WAL. Smead Capital Management Inc. acquired a new stake in shares of Western Alliance Bancorporation during the 4th quarter valued at $77,957,000. Norges Bank bought a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth about $67,758,000. Vaughan Nelson Investment Management L.P. increased its stake in shares of Western Alliance Bancorporation by 103.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,725,328 shares of the financial services provider’s stock valued at $113,510,000 after buying an additional 876,413 shares during the period. Dimensional Fund Advisors LP raised its holdings in Western Alliance Bancorporation by 50.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,452,203 shares of the financial services provider’s stock valued at $161,339,000 after buying an additional 824,636 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Western Alliance Bancorporation by 170.4% during the 3rd quarter. Invesco Ltd. now owns 1,294,476 shares of the financial services provider’s stock worth $59,507,000 after buying an additional 815,737 shares during the period. Institutional investors own 79.15% of the company’s stock.

Analysts Set New Price Targets

WAL has been the subject of several recent research reports. Truist Financial decreased their price target on shares of Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Barclays reduced their price target on Western Alliance Bancorporation from $91.00 to $86.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 23rd. Hovde Group initiated coverage on Western Alliance Bancorporation in a research report on Monday, April 22nd. They set an “outperform” rating and a $75.00 price objective for the company. Keefe, Bruyette & Woods reduced their target price on Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Finally, Jefferies Financial Group lowered their price target on shares of Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating for the company in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.47.

Read Our Latest Research Report on Western Alliance Bancorporation

Insider Buying and Selling at Western Alliance Bancorporation

In other news, CAO J. Kelly Jr. Ardrey sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $64.20, for a total value of $64,200.00. Following the sale, the chief accounting officer now owns 5,636 shares of the company’s stock, valued at $361,831.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $57.93 on Tuesday. The firm has a market capitalization of $6.38 billion, a P/E ratio of 8.44, a P/E/G ratio of 1.11 and a beta of 1.46. Western Alliance Bancorporation has a 52 week low of $34.45 and a 52 week high of $70.23. The stock has a 50 day moving average price of $60.59 and a two-hundred day moving average price of $60.74. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.87 and a current ratio of 0.90.

Western Alliance Bancorporation (NYSE:WALGet Free Report) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $711.34 million. Western Alliance Bancorporation had a return on equity of 14.77% and a net margin of 16.50%. During the same period last year, the business posted $2.30 earnings per share. Equities analysts forecast that Western Alliance Bancorporation will post 7.44 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Thursday, May 16th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Wednesday, May 15th. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%.

About Western Alliance Bancorporation

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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