Alliancebernstein L.P. Reduces Position in Western Alliance Bancorporation $WAL

Alliancebernstein L.P. lessened its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 14.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 184,962 shares of the financial services provider’s stock after selling 30,687 shares during the quarter. Alliancebernstein L.P. owned about 0.17% of Western Alliance Bancorporation worth $14,211,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Western Alliance Bancorporation

In related news, insider Tim R. Bruckner sold 2,500 shares of the business’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $83.91, for a total transaction of $209,775.00. Following the transaction, the insider owned 24,759 shares in the company, valued at $2,077,527.69. The trade was a 9.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.68% of the company’s stock.

Western Alliance Bancorporation Price Performance

WAL opened at $89.64 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 0.86. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $98.10. The stock has a market capitalization of $9.89 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 0.61 and a beta of 1.39. The stock’s 50 day moving average price is $83.90 and its 200-day moving average price is $77.36.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly 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 company had revenue of $836.21 million during the quarter, compared to analyst estimates of $838.58 million. Western Alliance Bancorporation had a return on equity of 12.62% and a net margin of 16.39%.During the same quarter last year, the firm posted $1.75 earnings per share. On average, equities research analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently weighed in on WAL shares. Citigroup restated a “neutral” rating on shares of Western Alliance Bancorporation in a research report on Tuesday, August 26th. Piper Sandler upped their target price on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. DA Davidson increased their price objective on Western Alliance Bancorporation from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Wells Fargo & Company dropped their target price on Western Alliance Bancorporation from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.79.

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.