Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Wescott Financial Advisory Group LLC

Wescott Financial Advisory Group LLC lessened its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 50.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 5,000 shares of the financial services provider’s stock after selling 5,000 shares during the quarter. Wescott Financial Advisory Group LLC’s holdings in Western Alliance Bancorporation were worth $432,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Western Alliance Bancorporation during the 3rd quarter worth $31,000. ORG Wealth Partners LLC acquired a new stake in shares of Western Alliance Bancorporation in the third quarter valued at $33,000. UMB Bank n.a. lifted its holdings in shares of Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after buying an additional 249 shares during the period. Blue Trust Inc. lifted its holdings in shares of Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after buying an additional 187 shares during the period. Finally, ORG Partners LLC acquired a new stake in shares of Western Alliance Bancorporation in the second quarter valued at $36,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on WAL shares. JPMorgan Chase & Co. cut their price objective on Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Truist Financial cut their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and upped their price objective for the company from $83.00 to $101.00 in a report on Monday, October 7th. StockNews.com lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Finally, Piper Sandler cut their target price on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.73.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the transaction, the director now directly owns 4,056 shares of the company’s stock, valued at $335,634. This represents a 42.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the sale, the insider now owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. This trade represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Stock Up 2.6 %

NYSE:WAL opened at $93.65 on Friday. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.47 and a beta of 1.44. Western Alliance Bancorporation has a 1-year low of $47.60 and a 1-year high of $96.45. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The business’s fifty day moving average price is $86.81 and its 200 day moving average price is $75.61.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The business had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. On average, sell-side analysts forecast that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.38 dividend. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 1.62%. The ex-dividend date is Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio is presently 23.46%.

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.