1,788 Shares in Western Alliance Bancorporation (NYSE:WAL) Bought by RiverPark Advisors LLC

RiverPark Advisors LLC acquired a new position in shares of Western Alliance Bancorporation (NYSE:WAL) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 1,788 shares of the financial services provider’s stock, valued at approximately $155,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Western Alliance Bancorporation by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock worth $670,170,000 after buying an additional 395,101 shares during the last quarter. M&G Plc lifted its position in shares of Western Alliance Bancorporation by 12.4% during the 2nd quarter. M&G Plc now owns 133,670 shares of the financial services provider’s stock worth $8,421,000 after buying an additional 14,734 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Western Alliance Bancorporation by 1.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,633,261 shares of the financial services provider’s stock worth $102,603,000 after buying an additional 20,254 shares during the last quarter. First Hawaiian Bank bought a new stake in shares of Western Alliance Bancorporation during the 2nd quarter worth $474,000. Finally, Bank of Montreal Can raised its position in Western Alliance Bancorporation by 41.4% in the second quarter. Bank of Montreal Can now owns 596,262 shares of the financial services provider’s stock valued at $37,475,000 after purchasing an additional 174,682 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on WAL. Piper Sandler dropped their target price on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the company an “outperform” rating in a research report on Friday, October 18th. Stephens reiterated an “overweight” rating and issued a $102.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, October 18th. Bank of America increased their target price on Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Barclays increased their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.73.

Western Alliance Bancorporation Trading Down 1.2 %

NYSE WAL opened at $90.38 on Friday. The business has a 50 day simple moving average of $85.78 and a 200 day simple moving average of $74.57. Western Alliance Bancorporation has a one year low of $47.54 and a one year high of $96.45. The stock has a market capitalization of $9.95 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.42 and a beta of 1.44. 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 released its earnings results 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 business had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. Research analysts expect that Western Alliance Bancorporation will post 7.13 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 22.84%.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the completion of the sale, the insider now owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. This trade represents a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the sale, the director now directly owns 4,056 shares of the company’s stock, valued at $335,634. This trade represents a 42.48 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.75% of the company’s stock.

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.