Western Alliance Bancorporation (NYSE:WAL) Shares Sold by 140 Summer Partners LP

140 Summer Partners LP cut its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 20.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 918,556 shares of the financial services provider’s stock after selling 230,700 shares during the period. Western Alliance Bancorporation makes up approximately 8.6% of 140 Summer Partners LP’s holdings, making the stock its 3rd biggest holding. 140 Summer Partners LP’s holdings in Western Alliance Bancorporation were worth $79,446,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC acquired a new position in shares of Western Alliance Bancorporation during the first quarter worth $217,000. Plato Investment Management Ltd lifted its holdings in Western Alliance Bancorporation by 246.1% in the 1st quarter. Plato Investment Management Ltd now owns 1,883 shares of the financial services provider’s stock worth $121,000 after buying an additional 1,339 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in Western Alliance Bancorporation by 51.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 333,204 shares of the financial services provider’s stock valued at $21,388,000 after buying an additional 113,727 shares during the last quarter. Bright Futures Wealth Management LLC. acquired a new stake in shares of Western Alliance Bancorporation during the first quarter valued at about $909,000. Finally, First Hawaiian Bank purchased a new stake in shares of Western Alliance Bancorporation during the second quarter worth about $474,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction on Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the sale, the director now owns 4,056 shares of the company’s stock, valued at $335,634. The trade was a 42.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.75% of the stock is owned by insiders.

Western Alliance Bancorporation Stock Down 0.6 %

Shares of Western Alliance Bancorporation stock opened at $93.50 on Thursday. The stock has a market capitalization of $10.29 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.48 and a beta of 1.44. Western Alliance Bancorporation has a twelve month low of $47.60 and a twelve month high of $98.10. 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 50 day simple moving average is $87.47 and its 200-day simple moving average is $76.26.

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

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.63%. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, November 15th. Western Alliance Bancorporation’s payout ratio is presently 23.46%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on WAL shares. JPMorgan Chase & Co. reduced their price target on Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wells Fargo & Company upped their price target on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and raised their price objective for the stock from $83.00 to $101.00 in a report on Monday, October 7th. Finally, StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and an average target price of $92.73.

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.