Harbor Capital Advisors Inc. Sells 4,775 Shares of Western Alliance Bancorporation (NYSE:WAL)

Harbor Capital Advisors Inc. lowered its holdings in Western Alliance Bancorporation (NYSE:WAL) by 15.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,554 shares of the financial services provider’s stock after selling 4,775 shares during the period. Harbor Capital Advisors Inc.’s holdings in Western Alliance Bancorporation were worth $2,135,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Western Alliance Bancorporation by 46.2% during the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock worth $388,197,000 after acquiring an additional 1,418,472 shares in the last quarter. FMR LLC raised its stake in shares of Western Alliance Bancorporation by 93.3% during the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock worth $241,568,000 after purchasing an additional 1,347,921 shares in the last quarter. LHM Inc. grew its stake in shares of Western Alliance Bancorporation by 2,141.1% in the second quarter. LHM Inc. now owns 757,809 shares of the financial services provider’s stock valued at $47,606,000 after buying an additional 723,995 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Western Alliance Bancorporation by 20.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock worth $233,832,000 after buying an additional 636,577 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Western Alliance Bancorporation by 6,342.7% during the third quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock worth $44,522,000 after acquiring an additional 506,778 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Down 2.9 %

Shares of WAL opened at $78.46 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 12 month low of $53.75 and a 12 month high of $98.10. The firm’s 50 day moving average is $88.43 and its 200-day moving average is $81.96. The stock has a market capitalization of $8.64 billion, a PE ratio of 12.11, a P/E/G ratio of 1.41 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The company had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. Equities research analysts forecast that Western Alliance Bancorporation will post 7.14 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.38 per share. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.52 annualized dividend and a yield of 1.94%. Western Alliance Bancorporation’s dividend payout ratio is currently 23.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WAL. Piper Sandler lowered their price objective on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Stephens restated an “overweight” rating and issued a $102.00 price objective on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. Royal Bank of Canada set a $99.00 price objective on Western Alliance Bancorporation and gave the company an “outperform” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their price target for the company from $83.00 to $101.00 in a research note on Monday, October 7th. Finally, Wells Fargo & Company reduced their price objective on shares of 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.31.

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.