Harbor Capital Advisors Inc. Sells 4,775 Shares of Western Alliance Bancorporation (NYSE:WAL)

Harbor Capital Advisors Inc. decreased its holdings in Western Alliance Bancorporation (NYSE:WAL) by 15.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 25,554 shares of the financial services provider’s stock after selling 4,775 shares during the period. Harbor Capital Advisors Inc.’s holdings in Western Alliance Bancorporation were worth $2,135,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Oliver Luxxe Assets LLC grew its position in Western Alliance Bancorporation by 5.2% in the fourth quarter. Oliver Luxxe Assets LLC now owns 50,301 shares of the financial services provider’s stock valued at $4,202,000 after acquiring an additional 2,492 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Western Alliance Bancorporation by 3.1% during the 4th quarter. Nordea Investment Management AB now owns 88,012 shares of the financial services provider’s stock valued at $7,395,000 after purchasing an additional 2,632 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Western Alliance Bancorporation during the 4th quarter worth approximately $244,000. GAMMA Investing LLC lifted its stake in Western Alliance Bancorporation by 25.5% in the 4th quarter. GAMMA Investing LLC now owns 1,423 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 289 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in Western Alliance Bancorporation by 13.4% in the fourth quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock valued at $111,000 after buying an additional 157 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Down 2.9 %

Shares of Western Alliance Bancorporation stock opened at $78.46 on Friday. The stock’s 50-day moving average is $88.43 and its 200 day moving average is $81.96. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.41 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. The company had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. Equities research analysts anticipate that Western Alliance Bancorporation will post 7.14 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.94%. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio is currently 23.46%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WAL. Truist Financial lowered their price target on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a report on Monday, October 21st. UBS Group started coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a “buy” rating and a $115.00 price target on the stock. Wells Fargo & Company lowered their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Barclays lifted their target price on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.31.

About Western Alliance Bancorporation

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.