Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its position in Western Alliance Bancorporation (NYSE:WAL) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,612 shares of the financial services provider’s stock after selling 211 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Western Alliance Bancorporation were worth $469,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in WAL. SBI Securities Co. Ltd. purchased a new position in Western Alliance Bancorporation during the 4th quarter worth $26,000. Smartleaf Asset Management LLC boosted its holdings in Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 117 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 136 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 215 shares in the last quarter. Finally, Atala Financial Inc acquired a new stake in Western Alliance Bancorporation in the 4th quarter worth approximately $44,000. 79.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WAL. UBS Group initiated coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a “buy” rating and a $115.00 price target on the stock. JPMorgan Chase & Co. reduced their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Stephens reaffirmed an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. DA Davidson cut their price objective on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Wells Fargo & Company decreased their target price on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL opened at $75.60 on Wednesday. The company has a market capitalization of $8.35 billion, a PE ratio of 10.65, 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. The company’s fifty day moving average price is $83.85 and its 200 day moving average price is $85.96. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate 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, research analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.41%.

Western Alliance Bancorporation 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.