Western Alliance Bancorporation (NYSE:WAL) Shares Bought by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC increased its stake in Western Alliance Bancorporation (NYSE:WAL) by 55.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,814,745 shares of the financial services provider’s stock after purchasing an additional 648,983 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Western Alliance Bancorporation were worth $151,604,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Schroder Investment Management Group grew its position in shares of Western Alliance Bancorporation by 12.8% during the fourth quarter. Schroder Investment Management Group now owns 312,747 shares of the financial services provider’s stock worth $26,136,000 after acquiring an additional 35,508 shares during the last quarter. DnB Asset Management AS increased its stake in shares of Western Alliance Bancorporation by 23.8% in the fourth quarter. DnB Asset Management AS now owns 192,687 shares of the financial services provider’s stock valued at $16,097,000 after purchasing an additional 36,984 shares during the period. Pictet Asset Management Holding SA raised its holdings in shares of Western Alliance Bancorporation by 5.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 14,111 shares of the financial services provider’s stock valued at $1,179,000 after buying an additional 742 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter worth approximately $5,448,000. Finally, Norges Bank bought a new position in Western Alliance Bancorporation in the 4th quarter worth approximately $109,298,000. 79.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WAL has been the subject of a number of analyst reports. UBS Group assumed coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price target for the company. Stephens reiterated an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. 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. Finally, Wells Fargo & Company cut their target price 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. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Price Performance

NYSE WAL opened at $76.08 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. The company has a market cap of $8.40 billion, a PE ratio of 10.72, a PEG ratio of 0.63 and a beta of 1.43. The stock’s 50-day moving average price is $84.44 and its two-hundred day moving average price is $85.96.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating 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%. On average, analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given 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 (DPR) is presently 21.41%.

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.