BNP Paribas Financial Markets Sells 21,831 Shares of Western Alliance Bancorporation (NYSE:WAL)

BNP Paribas Financial Markets cut its position in Western Alliance Bancorporation (NYSE:WAL) by 64.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,242 shares of the financial services provider’s stock after selling 21,831 shares during the quarter. BNP Paribas Financial Markets’ holdings in Western Alliance Bancorporation were worth $1,023,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC increased its position in Western Alliance Bancorporation by 2.9% during the 3rd quarter. Barclays PLC now owns 123,412 shares of the financial services provider’s stock worth $10,674,000 after purchasing an additional 3,421 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in Western Alliance Bancorporation during the 4th quarter worth approximately $471,000. Crossmark Global Holdings Inc. grew its holdings in Western Alliance Bancorporation by 6.1% during the 4th quarter. Crossmark Global Holdings Inc. now owns 5,796 shares of the financial services provider’s stock worth $484,000 after acquiring an additional 331 shares during the last quarter. Perpetual Ltd bought a new stake in Western Alliance Bancorporation during the 4th quarter worth approximately $223,000. Finally, Janney Montgomery Scott LLC bought a new stake in Western Alliance Bancorporation during the 4th quarter worth approximately $298,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Price Performance

NYSE:WAL opened at $75.58 on Wednesday. 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 company has a market capitalization of $8.34 billion, a P/E ratio of 10.65, a P/E/G ratio of 0.63 and a beta of 1.30. Western Alliance Bancorporation has a 12 month low of $56.70 and a 12 month high of $98.10. The business’s 50-day moving average is $71.90 and its 200 day moving average is $82.01.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 EPS for the quarter, topping the consensus estimate of $1.78 by $0.01. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. The company had revenue of $790.10 million during the quarter, compared to analyst estimates of $792.25 million. During the same period in the previous year, the firm earned $1.72 earnings per share. On average, equities research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 2.01%. Western Alliance Bancorporation’s dividend payout ratio is currently 20.85%.

Analyst Ratings Changes

WAL has been the topic of a number of research reports. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Monday, May 12th. Barclays reduced their price objective on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Stephens reaffirmed an “overweight” rating and issued a $92.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. DA Davidson reduced their price objective on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada reduced their price objective on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.38.

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.