Insider Selling: Western Alliance Bancorporation (NYSE:WAL) CAO Sells $64,200.00 in Stock

Western Alliance Bancorporation (NYSE:WALGet Free Report) CAO J. Kelly Jr. Ardrey sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $64.20, for a total transaction of $64,200.00. Following the transaction, the chief accounting officer now owns 5,636 shares in the company, valued at $361,831.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $62.96 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.87. The firm has a market cap of $6.93 billion, a PE ratio of 9.18, a P/E/G ratio of 1.18 and a beta of 1.47. The firm has a 50 day simple moving average of $60.86 and a 200-day simple moving average of $59.61. Western Alliance Bancorporation has a 1-year low of $33.19 and a 1-year high of $70.23.

Western Alliance Bancorporation (NYSE:WALGet Free Report) last released its earnings results on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.69 by $0.03. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.77%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $711.34 million. During the same period in the previous year, the company earned $2.30 EPS. On average, equities analysts expect that Western Alliance Bancorporation will post 7.44 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Thursday, May 16th will be given a dividend of $0.37 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.48 annualized dividend and a yield of 2.35%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.57%.

Wall Street Analyst Weigh In

WAL has been the topic of several research analyst reports. Royal Bank of Canada decreased their price target on Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Citigroup boosted their target price on Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Stephens restated an “overweight” rating and issued a $82.00 price target on shares of Western Alliance Bancorporation in a research report on Friday, April 19th. Keefe, Bruyette & Woods decreased their price objective on shares of Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Finally, StockNews.com downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and an average price target of $72.47.

Check Out Our Latest Stock Report on WAL

Institutional Trading of Western Alliance Bancorporation

A number of hedge funds have recently added to or reduced their stakes in WAL. Russell Investments Group Ltd. increased its holdings in shares of Western Alliance Bancorporation by 0.6% during the 1st quarter. Russell Investments Group Ltd. now owns 29,768 shares of the financial services provider’s stock worth $1,911,000 after buying an additional 164 shares during the last quarter. GAMMA Investing LLC grew its position in Western Alliance Bancorporation by 57.4% during the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 183 shares during the period. Riverwater Partners LLC increased its stake in Western Alliance Bancorporation by 0.7% during the fourth quarter. Riverwater Partners LLC now owns 29,180 shares of the financial services provider’s stock worth $1,920,000 after acquiring an additional 211 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Western Alliance Bancorporation by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 47,472 shares of the financial services provider’s stock worth $2,182,000 after purchasing an additional 240 shares during the period. Finally, Madison Asset Management LLC lifted its stake in shares of Western Alliance Bancorporation by 0.4% in the 4th quarter. Madison Asset Management LLC now owns 75,371 shares of the financial services provider’s stock valued at $4,959,000 after purchasing an additional 297 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Company Profile

(Get Free Report)

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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