Western Alliance Bancorporation (NYSE:WAL) Director Sells $247,919.00 in Stock

Western Alliance Bancorporation (NYSE:WAL) Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the sale, the director now directly owns 4,056 shares of the company’s stock, valued at approximately $335,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $78.69 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.88 and a quick ratio of 0.85. Western Alliance Bancorporation has a 1-year low of $38.81 and a 1-year high of $85.96. The business has a 50 day simple moving average of $75.61 and a two-hundred day simple moving average of $65.72. The stock has a market capitalization of $8.66 billion, a PE ratio of 11.47, a P/E/G ratio of 1.49 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. The firm had revenue of $771.80 million during the quarter, compared to analyst estimates of $737.97 million. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 13.98%. Western Alliance Bancorporation’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the firm posted $1.96 earnings per share. On average, research analysts predict that Western Alliance Bancorporation will post 7.4 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio is 21.57%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its holdings in 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 valued at $1,911,000 after buying an additional 164 shares during the period. GAMMA Investing LLC raised its position in Western Alliance Bancorporation by 57.4% in the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 183 shares during the period. Versant Capital Management Inc boosted its position in shares of Western Alliance Bancorporation by 26.5% during the second quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider’s stock valued at $73,000 after buying an additional 244 shares during the period. Riverwater Partners LLC grew its stake in shares of Western Alliance Bancorporation by 1.0% during the first quarter. Riverwater Partners LLC now owns 29,467 shares of the financial services provider’s stock valued at $1,891,000 after buying an additional 287 shares during the last quarter. Finally, Madison Asset Management LLC raised its holdings in shares of Western Alliance Bancorporation by 0.4% in the fourth quarter. Madison Asset Management LLC now owns 75,371 shares of the financial services provider’s stock worth $4,959,000 after buying an additional 297 shares during the period. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Analyst Ratings Changes

WAL has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on Western Alliance Bancorporation from $68.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Western Alliance Bancorporation from $62.00 to $83.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Truist Financial raised their price objective on shares of Western Alliance Bancorporation from $74.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Bank of America upped their target price on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Jefferies Financial Group raised their price target on Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.27.

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.