Western Alliance Bancorporation (NYSE:WAL) Stock Position Trimmed by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its position in Western Alliance Bancorporation (NYSE:WAL) by 0.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 964,235 shares of the financial services provider’s stock after selling 5,073 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Western Alliance Bancorporation were worth $74,082,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. HWG Holdings LP bought a new stake in Western Alliance Bancorporation in the 1st quarter valued at about $25,000. Tsfg LLC bought a new stake in Western Alliance Bancorporation in the 1st quarter valued at about $33,000. UMB Bank n.a. lifted its position in Western Alliance Bancorporation by 91.5% in the 1st quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 482 shares during the last quarter. Larson Financial Group LLC lifted its position in Western Alliance Bancorporation by 144.5% in the 1st quarter. Larson Financial Group LLC now owns 1,714 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 1,013 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Western Alliance Bancorporation by 53.3% in the 1st quarter. GAMMA Investing LLC now owns 2,181 shares of the financial services provider’s stock valued at $168,000 after purchasing an additional 758 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on WAL. Royal Bank Of Canada dropped their price target on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company dropped their price target on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday, July 21st. Citigroup boosted their price target on shares of Western Alliance Bancorporation from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Stephens restated an “overweight” rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Finally, Truist Financial dropped their price target on shares of Western Alliance Bancorporation from $96.00 to $93.00 and set a “buy” rating on the stock in a research report on Monday, July 21st. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $96.62.

Western Alliance Bancorporation Stock Up 2.5%

NYSE WAL opened at $84.80 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.82. The company’s 50 day simple moving average is $79.00 and its 200 day simple moving average is $77.59. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $98.10. The company has a market capitalization of $9.36 billion, a P/E ratio of 11.14, a PEG ratio of 0.57 and a beta of 1.33.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Thursday, July 17th. The financial services provider reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.03. The business had revenue of $836.21 million for the quarter, compared to the consensus estimate of $838.58 million. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. During the same period in the previous year, the firm earned $1.75 EPS. Equities research analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Thursday, August 14th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, August 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 19.97%.

Insider Buying and Selling at Western Alliance Bancorporation

In other news, insider Tim R. Bruckner sold 2,500 shares of Western Alliance Bancorporation stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $83.91, for a total value of $209,775.00. Following the transaction, the insider directly owned 24,759 shares of the company’s stock, valued at $2,077,527.69. This trade represents a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.68% of the stock is currently owned by company insiders.

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.