Brown Brothers Harriman & Co. Has $6.02 Million Holdings in Western Alliance Bancorporation (NYSE:WAL)

Brown Brothers Harriman & Co. cut its stake in Western Alliance Bancorporation (NYSE:WAL) by 21.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,000 shares of the financial services provider’s stock after selling 20,000 shares during the period. Brown Brothers Harriman & Co. owned approximately 0.07% of Western Alliance Bancorporation worth $6,015,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Western Alliance Bancorporation by 46.2% in the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock valued at $388,197,000 after buying an additional 1,418,472 shares during the period. FMR LLC grew its holdings 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. Janus Henderson Group PLC increased its position in shares of Western Alliance Bancorporation by 4.1% during the third quarter. Janus Henderson Group PLC now owns 1,896,377 shares of the financial services provider’s stock valued at $164,019,000 after purchasing an additional 74,956 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in shares of Western Alliance Bancorporation by 4.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider’s stock valued at $157,369,000 after purchasing an additional 81,238 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Western Alliance Bancorporation by 6.9% in the third quarter. Geode Capital Management LLC now owns 1,880,681 shares of the financial services provider’s stock worth $162,701,000 after purchasing an additional 120,729 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Down 2.3 %

Shares of NYSE WAL opened at $76.08 on Friday. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. The firm’s 50-day moving average is $84.44 and its 200-day moving average is $85.96. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $8.40 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data 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%. Equities analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.00%. Western Alliance Bancorporation’s dividend payout ratio is presently 21.41%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WAL shares. UBS Group assumed coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price objective for the company. DA Davidson cut their price target on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. 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. Finally, Stephens reiterated an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.07.

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.