Price T Rowe Associates Inc. MD Has $328.17 Million Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Price T Rowe Associates Inc. MD increased its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 16.3% in the 1st quarter, HoldingsChannel reports. The firm owned 5,112,376 shares of the financial services provider’s stock after acquiring an additional 717,242 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Western Alliance Bancorporation were worth $328,165,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in WAL. Smead Capital Management Inc. acquired a new stake in Western Alliance Bancorporation during the fourth quarter worth approximately $77,957,000. Norges Bank bought a new position in Western Alliance Bancorporation in the fourth quarter worth approximately $67,758,000. Vaughan Nelson Investment Management L.P. boosted its holdings in Western Alliance Bancorporation by 103.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,725,328 shares of the financial services provider’s stock worth $113,510,000 after acquiring an additional 876,413 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 worth $161,339,000 after acquiring an additional 824,636 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Western Alliance Bancorporation by 5,918.1% in the fourth quarter. Victory Capital Management Inc. now owns 763,459 shares of the financial services provider’s stock worth $50,228,000 after acquiring an additional 750,773 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

WAL stock traded up $1.53 during midday trading on Friday, hitting $81.39. The company’s stock had a trading volume of 1,542,252 shares, compared to its average volume of 1,342,379. The stock’s 50-day moving average price is $64.50 and its 200 day moving average price is $62.09. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 1.21. Western Alliance Bancorporation has a 1 year low of $38.81 and a 1 year high of $81.90. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 1.55 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.04. The firm had revenue of $771.80 million for the quarter, compared to analyst estimates of $737.97 million. Western Alliance Bancorporation had a return on equity of 14.18% and a net margin of 15.54%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.96 earnings per share. On average, equities analysts forecast that Western Alliance Bancorporation will post 7.37 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Thursday, May 16th were paid a $0.37 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $1.48 annualized dividend and a dividend yield of 1.82%. Western Alliance Bancorporation’s payout ratio is presently 21.57%.

Insider Buying and Selling at Western Alliance Bancorporation

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $70.00 price target on shares of Western Alliance Bancorporation in a report on Wednesday, May 8th. Jefferies Financial Group increased their price target on Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Wells Fargo & Company increased their price target on Western Alliance Bancorporation from $68.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Bank of America increased their price target on Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Stephens restated an “overweight” rating and issued a $82.00 target price on shares of Western Alliance Bancorporation in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $84.27.

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.