Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 36.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 402,543 shares of the financial services provider’s stock after selling 230,620 shares during the period. Jennison Associates LLC owned approximately 0.37% of Western Alliance Bancorporation worth $33,628,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creative Planning lifted its position in shares of Western Alliance Bancorporation by 6.1% during the second quarter. Creative Planning now owns 5,756 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 330 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Western Alliance Bancorporation in the 2nd quarter worth $221,000. SG Americas Securities LLC purchased a new position in Western Alliance Bancorporation in the 3rd quarter valued at about $722,000. GAMMA Investing LLC grew its stake in shares of Western Alliance Bancorporation by 124.1% during the third quarter. GAMMA Investing LLC now owns 1,134 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 628 shares in the last quarter. Finally, Atomi Financial Group Inc. purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth about $229,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WAL. Stephens reissued an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research report on Friday, October 18th. UBS Group started coverage on shares of Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price target on the stock. Wells Fargo & Company decreased 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 report on Monday, January 6th. Finally, Piper Sandler upped their target price 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. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.07.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL opened at $86.61 on Wednesday. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-year high of $98.10. The firm has a market capitalization of $9.53 billion, a PE ratio of 12.20, a P/E/G ratio of 0.61 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The business’s fifty day moving average price is $87.73 and its two-hundred day moving average price is $84.70.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, beating 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 expect that Western Alliance Bancorporation will post 9.11 EPS for the current year.

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.