Western Alliance Bancorporation (NYSE:WAL) Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP lifted its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 128.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,369 shares of the financial services provider’s stock after acquiring an additional 20,421 shares during the period. Quantbot Technologies LP’s holdings in Western Alliance Bancorporation were worth $2,335,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. WCM Investment Management LLC purchased a new stake in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $12,387,000. Smead Capital Management Inc. purchased a new position in shares of Western Alliance Bancorporation during the fourth quarter worth about $77,957,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth about $917,000. Strs Ohio lifted its holdings in shares of Western Alliance Bancorporation by 35.3% in the 4th quarter. Strs Ohio now owns 86,600 shares of the financial services provider’s stock valued at $5,697,000 after purchasing an additional 22,600 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Western Alliance Bancorporation by 166.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 32,349 shares of the financial services provider’s stock valued at $2,128,000 after purchasing an additional 20,198 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 topic of several research analyst reports. Barclays cut their price target on Western Alliance Bancorporation from $91.00 to $86.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 23rd. DA Davidson cut their target price on shares of Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 29th. Truist Financial dropped their price objective on shares of Western Alliance Bancorporation from $75.00 to $74.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Jefferies Financial Group increased their target price on shares of Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus target price of $75.29.

Insider Buying and Selling

In related news, CAO J. Kelly Jr. Ardrey sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $64.20, for a total value of $64,200.00. Following the sale, the chief accounting officer now owns 5,636 shares in the company, valued at approximately $361,831.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.75% of the stock is owned by insiders.

Western Alliance Bancorporation Stock Performance

NYSE WAL traded up $0.31 on Friday, hitting $67.31. 927,502 shares of the company’s stock were exchanged, compared to its average volume of 1,202,089. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of 9.77, a P/E/G ratio of 1.21 and a beta of 1.46. The firm’s 50-day moving average price is $61.96 and its two-hundred day moving average price is $61.35. Western Alliance Bancorporation has a fifty-two week low of $38.77 and a fifty-two week high of $70.23. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.87.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. Western Alliance Bancorporation had a return on equity of 14.77% and a net margin of 16.50%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $711.34 million. During the same quarter in the prior year, the company posted $2.30 earnings per share. On average, research analysts expect that Western Alliance Bancorporation will post 7.41 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Thursday, May 16th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, May 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.57%.

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.