Western Alliance Bancorporation $WAL Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. increased its position in Western Alliance Bancorporation (NYSE:WAL) by 33.8% during the first quarter, HoldingsChannel.com reports. The fund owned 475,935 shares of the financial services provider’s stock after acquiring an additional 120,105 shares during the quarter. Ameriprise Financial Inc.’s holdings in Western Alliance Bancorporation were worth $36,562,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. HWG Holdings LP purchased a new stake in shares of Western Alliance Bancorporation in the 1st quarter worth about $25,000. Tsfg LLC purchased a new stake in shares of Western Alliance Bancorporation in the first quarter valued at about $33,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Western Alliance Bancorporation in the first quarter valued at about $58,000. National Bank of Canada FI grew its position in shares of Western Alliance Bancorporation by 22.7% in the first quarter. National Bank of Canada FI now owns 763 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 141 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Western Alliance Bancorporation by 91.5% during the 1st quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 482 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Price Performance

Shares of Western Alliance Bancorporation stock opened at $89.64 on Friday. The business’s fifty day moving average price is $81.98 and its 200 day moving average price is $77.31. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $98.10. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $9.89 billion, a P/E ratio of 11.78, a PEG ratio of 0.62 and a beta of 1.33.

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

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Thursday, August 14th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.7%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 19.97%.

Analyst Ratings Changes

A number of research firms recently commented on WAL. Wells Fargo & Company decreased their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, July 21st. Wall Street Zen raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Wednesday, May 21st. Piper Sandler boosted their price objective on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Truist Financial reduced their price objective on shares of Western Alliance Bancorporation from $96.00 to $93.00 and set a “buy” rating on the stock in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.79.

Insider Activity at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $83.91, for a total transaction of $209,775.00. Following the completion of the sale, the insider owned 24,759 shares in the company, valued at $2,077,527.69. This trade represents a 9.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.68% of the company’s stock.

Western Alliance Bancorporation 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.