Vaughan Nelson Investment Management L.P. Has $103.54 Million Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Vaughan Nelson Investment Management L.P. cut its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,613,007 shares of the financial services provider’s stock after selling 112,321 shares during the period. Western Alliance Bancorporation makes up approximately 0.9% of Vaughan Nelson Investment Management L.P.’s investment portfolio, making the stock its 26th largest holding. Vaughan Nelson Investment Management L.P. owned about 1.46% of Western Alliance Bancorporation worth $103,539,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Western Alliance Bancorporation by 0.8% in the third quarter. Vanguard Group Inc. now owns 10,022,268 shares of the financial services provider’s stock valued at $460,724,000 after acquiring an additional 74,824 shares during the period. Dimensional Fund Advisors LP grew its stake in Western Alliance Bancorporation by 50.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,452,203 shares of the financial services provider’s stock valued at $161,339,000 after acquiring an additional 824,636 shares during the period. 140 Summer Partners LP grew its stake in Western Alliance Bancorporation by 9.8% in the third quarter. 140 Summer Partners LP now owns 1,221,048 shares of the financial services provider’s stock valued at $56,132,000 after acquiring an additional 108,789 shares during the period. Smead Capital Management Inc. acquired a new position in Western Alliance Bancorporation in the fourth quarter valued at about $77,957,000. Finally, Jennison Associates LLC grew its stake in Western Alliance Bancorporation by 111.7% in the fourth quarter. Jennison Associates LLC now owns 1,184,458 shares of the financial services provider’s stock valued at $77,925,000 after acquiring an additional 624,957 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Price Performance

NYSE:WAL traded up $0.45 during trading hours on Tuesday, reaching $63.05. 18,092 shares of the company were exchanged, compared to its average volume of 1,207,724. The company has a market capitalization of $6.94 billion, a P/E ratio of 9.13, a P/E/G ratio of 1.19 and a beta of 1.46. Western Alliance Bancorporation has a 1-year low of $35.67 and a 1-year high of $70.23. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.87. The business has a 50 day moving average of $61.09 and a 200 day moving average of $61.38.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.03. Western Alliance Bancorporation had a return on equity of 14.77% and a net margin of 16.50%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $711.34 million. During the same period in the prior year, the company earned $2.30 earnings per share. Research analysts forecast that Western Alliance Bancorporation will post 7.42 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Thursday, May 16th were issued a dividend of $0.37 per share. The ex-dividend date was Wednesday, May 15th. This represents a $1.48 dividend on an annualized basis and a yield of 2.35%. Western Alliance Bancorporation’s payout ratio is currently 21.57%.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, CAO J. Kelly Jr. Ardrey sold 1,000 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $64.20, for a total transaction of $64,200.00. Following the completion of the sale, the chief accounting officer now directly owns 5,636 shares in the company, valued at approximately $361,831.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.75% of the company’s stock.

Wall Street Analyst Weigh In

WAL has been the topic of a number of research reports. Barclays cut their price target on Western Alliance Bancorporation from $91.00 to $86.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Truist Financial dropped their target price on Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Hovde Group assumed coverage on Western Alliance Bancorporation in a report on Monday, April 22nd. They set an “outperform” rating and a $75.00 target price on the stock. Stephens reiterated an “overweight” rating and set a $82.00 target price on shares of Western Alliance Bancorporation in a report on Friday, April 19th. Finally, DA Davidson dropped their target price on Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.71.

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.