Western Alliance Bancorporation $WAL Holdings Cut by V Square Quantitative Management LLC

V Square Quantitative Management LLC decreased its stake in Western Alliance Bancorporation (NYSE:WAL) by 29.0% in the second quarter, Holdings Channel reports. The institutional investor owned 357 shares of the financial services provider’s stock after selling 146 shares during the quarter. V Square Quantitative Management LLC’s holdings in Western Alliance Bancorporation were worth $28,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in Western Alliance Bancorporation by 6.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,317 shares of the financial services provider’s stock worth $181,000 after buying an additional 136 shares in the last quarter. National Bank of Canada FI lifted its position in Western Alliance Bancorporation by 22.7% in the 1st 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. Wealth Enhancement Advisory Services LLC increased its stake in shares of Western Alliance Bancorporation by 5.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,087 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 166 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of Western Alliance Bancorporation by 2.9% during the 1st quarter. D.A. Davidson & CO. now owns 6,056 shares of the financial services provider’s stock worth $465,000 after purchasing an additional 169 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in shares of Western Alliance Bancorporation by 3.4% during the 1st quarter. Crossmark Global Holdings Inc. now owns 5,993 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. TD Cowen assumed coverage on shares of Western Alliance Bancorporation in a research note on Thursday, September 25th. They set a “buy” rating and a $118.00 price target on the stock. Piper Sandler raised their target price on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. Industrial Alliance Securities set a $104.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, August 26th. Cowen initiated coverage on shares of Western Alliance Bancorporation in a research note on Wednesday, September 24th. They issued a “buy” rating on the stock. Finally, Citigroup reiterated a “neutral” rating on shares of Western Alliance Bancorporation in a research note on Tuesday, August 26th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.53.

Insider Activity at Western Alliance Bancorporation

In other news, insider Tim R. Bruckner sold 2,500 shares of the firm’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 completion of the transaction, the insider directly owned 24,759 shares of the company’s stock, valued at approximately $2,077,527.69. This trade represents a 9.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.68% of the company’s stock.

Western Alliance Bancorporation Price Performance

Shares of Western Alliance Bancorporation stock opened at $85.33 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.82. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10. The firm has a fifty day moving average price of $85.40 and a two-hundred day moving average price of $78.24. The company has a market cap of $9.42 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 0.59 and a beta of 1.35.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $836.21 million during the quarter, compared to the consensus estimate of $838.58 million. During the same period in the prior year, the firm earned $1.75 EPS. Analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, August 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 19.97%.

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.