Moody Aldrich Partners LLC Sells 428 Shares of Western Alliance Bancorporation (NYSE:WAL)

Moody Aldrich Partners LLC decreased its holdings in Western Alliance Bancorporation (NYSE:WAL) by 5.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 7,453 shares of the financial services provider’s stock after selling 428 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Western Alliance Bancorporation were worth $282,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. raised its position in Western Alliance Bancorporation by 20.5% in the 1st quarter. JPMorgan Chase & Co. now owns 3,049,582 shares of the financial services provider’s stock valued at $93,346,000 after purchasing an additional 517,948 shares during the last quarter. Victory Capital Management Inc. raised its position in Western Alliance Bancorporation by 13.9% in the 1st quarter. Victory Capital Management Inc. now owns 2,484,312 shares of the financial services provider’s stock valued at $76,044,000 after purchasing an additional 303,975 shares during the last quarter. Nuveen Asset Management LLC raised its position in Western Alliance Bancorporation by 64.8% in the 1st quarter. Nuveen Asset Management LLC now owns 2,130,726 shares of the financial services provider’s stock valued at $65,222,000 after purchasing an additional 837,825 shares during the last quarter. Macquarie Group Ltd. raised its position in Western Alliance Bancorporation by 9.4% in the 4th quarter. Macquarie Group Ltd. now owns 2,121,795 shares of the financial services provider’s stock valued at $120,943,000 after purchasing an additional 181,730 shares during the last quarter. Finally, Davis Capital Partners LLC raised its position in Western Alliance Bancorporation by 12.0% in the 1st quarter. Davis Capital Partners LLC now owns 2,100,000 shares of the financial services provider’s stock valued at $64,281,000 after purchasing an additional 225,000 shares during the last quarter. Hedge funds and other institutional investors own 82.89% of the company’s stock.

Shares of Western Alliance Bancorporation stock traded down $0.46 during trading on Friday, reaching $35.95. 478,483 shares of the company were exchanged, compared to its average volume of 688,325. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.23. Western Alliance Bancorporation has a twelve month low of $20.90 and a twelve month high of $58.94. The business has a 50-day moving average price of $36.88 and a 200-day moving average price of $40.10. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 8.46 and a beta of 1.84.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, July 16th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.24. Western Alliance Bancorporation had a return on equity of 14.52% and a net margin of 32.82%. The business had revenue of $319.67 million during the quarter, compared to analysts’ expectations of $305.38 million. On average, equities research analysts forecast that Western Alliance Bancorporation will post 3.58 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, August 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.78%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 20.66%.

WAL has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on Western Alliance Bancorporation from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. ValuEngine raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Thursday, April 30th. SunTrust Banks lowered their target price on Western Alliance Bancorporation from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Citigroup cut Western Alliance Bancorporation from a “buy” rating to a “neutral” rating and lifted their target price for the company from $41.00 to $44.00 in a research note on Wednesday, June 17th. Finally, Zacks Investment Research raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Friday, May 22nd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $45.22.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

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Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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