Rockefeller Capital Management L.P. Purchases 59,383 Shares of Western Alliance Bancorporation (NYSE:WAL)

Rockefeller Capital Management L.P. boosted its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 34.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 233,549 shares of the financial services provider’s stock after acquiring an additional 59,383 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.21% of Western Alliance Bancorporation worth $19,511,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of Western Alliance Bancorporation in the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC lifted its position in Western Alliance Bancorporation by 56.0% during the 4th 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 during the last quarter. Fifth Third Bancorp grew its position in shares of Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 136 shares during the last quarter. Allworth Financial LP increased its stake in shares of Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 215 shares during the period. Finally, Atala Financial Inc acquired a new position in shares of Western Alliance Bancorporation during the 4th quarter worth about $44,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WAL has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price target on Western Alliance Bancorporation from $95.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. DA Davidson dropped their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Barclays cut their target price on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. decreased their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Stephens reaffirmed an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.40.

Western Alliance Bancorporation Price Performance

Shares of WAL stock opened at $63.83 on Tuesday. The stock’s fifty day moving average is $78.47 and its 200-day moving average is $84.40. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The stock has a market capitalization of $7.05 billion, a PE ratio of 8.99, a PEG ratio of 0.63 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL) last posted 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%. Equities research analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.38%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio is 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.