Dimensional Fund Advisors LP Acquires 58,535 Shares of Western Alliance Bancorporation $WAL

Dimensional Fund Advisors LP grew its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,674,518 shares of the financial services provider’s stock after purchasing an additional 58,535 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Western Alliance Bancorporation were worth $318,655,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Western Alliance Bancorporation during the second quarter worth $137,289,000. Perpetual Ltd bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth about $31,072,000. Global Frontier Investments LLC acquired a new position in shares of Western Alliance Bancorporation during the 2nd quarter valued at about $22,224,000. Smead Capital Management Inc. raised its stake in shares of Western Alliance Bancorporation by 19.2% in the 2nd quarter. Smead Capital Management Inc. now owns 1,435,247 shares of the financial services provider’s stock valued at $111,921,000 after acquiring an additional 231,159 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of Western Alliance Bancorporation by 11.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,194,630 shares of the financial services provider’s stock valued at $190,318,000 after acquiring an additional 223,425 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $80.75 on Friday. The company’s fifty day moving average is $88.84 and its two-hundred day moving average is $85.31. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $97.23. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.85 and a quick ratio of 0.80. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 0.69 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.19. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. The business had revenue of $980.90 million during the quarter, compared to analyst estimates of $912.69 million. During the same quarter in the prior year, the business earned $1.95 earnings per share. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. Equities research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 20th will be given a $0.42 dividend. The ex-dividend date is Friday, February 20th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 19.24%.

Analysts Set New Price Targets

Several brokerages have commented on WAL. Jefferies Financial Group increased their price target on Western Alliance Bancorporation from $105.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $105.00 target price (up from $100.00) on shares of Western Alliance Bancorporation in a research note on Wednesday, January 28th. TD Cowen dropped their target price on shares of Western Alliance Bancorporation from $109.00 to $108.00 and set a “buy” rating on the stock in a report on Wednesday, January 7th. Keefe, Bruyette & Woods upped their price target on shares of Western Alliance Bancorporation from $98.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Finally, Barclays reaffirmed an “overweight” rating on shares of Western Alliance Bancorporation in a research report on Monday, February 2nd. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $103.73.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.