Whalen Wealth Management Inc. Buys New Shares in Western Alliance Bancorporation (NYSE:WAL)

Whalen Wealth Management Inc. purchased a new position in Western Alliance Bancorporation (NYSE:WAL) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 5,891 shares of the financial services provider’s stock, valued at approximately $510,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Western Alliance Bancorporation during the 1st quarter worth about $27,000. V Square Quantitative Management LLC acquired a new position in Western Alliance Bancorporation during the 3rd quarter worth approximately $31,000. ORG Wealth Partners LLC acquired a new stake in Western Alliance Bancorporation in the third quarter valued at approximately $33,000. ORG Partners LLC bought a new stake in shares of Western Alliance Bancorporation during the second quarter valued at approximately $36,000. Finally, UMB Bank n.a. raised its position in shares of Western Alliance Bancorporation by 136.8% during the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 249 shares during the period. 79.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WAL has been the subject of a number of analyst reports. Stephens reiterated an “overweight” rating and set a $102.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Truist Financial decreased their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and raised their target price for the company from $83.00 to $101.00 in a report on Monday, October 7th. Wedbush upped their price target on Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Finally, Piper Sandler cut their price objective on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the company’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 transaction 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 approximately $335,634. This represents a 42.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction 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 $650,843.43. This trade represents a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Trading Down 1.3 %

Western Alliance Bancorporation stock opened at $89.24 on Tuesday. Western Alliance Bancorporation has a 12 month low of $47.60 and a 12 month high of $96.45. 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 business’s fifty day simple moving average is $85.93 and its two-hundred day simple moving average is $74.89. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The firm 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 predict that Western Alliance Bancorporation will post 7.13 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 23.46%.

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.