Principal Financial Group Inc. increased its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 6,342.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 514,768 shares of the financial services provider's stock after acquiring an additional 506,778 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Western Alliance Bancorporation worth $44,522,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in Western Alliance Bancorporation by 46.2% in the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider's stock worth $388,197,000 after buying an additional 1,418,472 shares in the last quarter. FMR LLC increased its stake in shares of Western Alliance Bancorporation by 93.3% in the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider's stock worth $241,568,000 after acquiring an additional 1,347,921 shares in the last quarter. LHM Inc. increased its stake in shares of Western Alliance Bancorporation by 2,141.1% during the second quarter. LHM Inc. now owns 757,809 shares of the financial services provider's stock valued at $47,606,000 after purchasing an additional 723,995 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Western Alliance Bancorporation by 20.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider's stock valued at $233,832,000 after buying an additional 636,577 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Western Alliance Bancorporation in the third quarter worth $39,230,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

WAL opened at $84.62 on Monday. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-year high of $98.10. The firm's 50 day simple moving average is $89.14 and its two-hundred day simple moving average is $79.62. 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 $9.31 billion, a PE ratio of 13.06, a PEG ratio of 1.41 and a beta of 1.45.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The company had revenue of $833.10 million for the quarter, compared to analysts' expectations of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. As a group, equities analysts forecast that Western Alliance Bancorporation will post 7.14 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.80%. This is a positive change from Western Alliance Bancorporation's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, November 15th. Western Alliance Bancorporation's dividend payout ratio is currently 23.46%.

Several equities analysts have recently issued reports on the company. UBS Group assumed coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a "buy" rating and a $115.00 price target for the company. Barclays upped 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 note on Friday, November 8th. JPMorgan Chase & Co. decreased their price objective on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating for the company in a report on Monday, October 21st. Piper Sandler cut their target price on Western Alliance Bancorporation from $102.00 to $101.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a "hold" rating to a "buy" rating and boosted their price target for the stock from $83.00 to $101.00 in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Western Alliance Bancorporation presently has an average rating of "Moderate Buy" and an average target price of $94.75.

Get Our Latest Stock Report on 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.

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