Western Alliance Bancorporation (NYSE:WAL) CAO Sells $160,710.20 in Stock

Western Alliance Bancorporation (NYSE:WAL) CAO J. Kelly Jr. Ardrey sold 2,116 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $75.95, for a total transaction of $160,710.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,520 shares of the company’s stock, valued at approximately $267,344. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

J. Kelly Jr. Ardrey also recently made the following trade(s):

• On Thursday, May 23rd, J. Kelly Jr. Ardrey sold 1,000 shares of Western Alliance Bancorporation stock. The shares were sold at an average price of $64.20, for a total transaction of $64,200.00.

Western Alliance Bancorporation Stock Up 1.9 %

Shares of WAL stock opened at $81.39 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.87 and a current ratio of 0.90. The firm’s 50-day moving average is $64.50 and its 200-day moving average is $62.11. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 1.52 and a beta of 1.46. Western Alliance Bancorporation has a 52-week low of $38.81 and a 52-week high of $81.90.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.04. The firm had revenue of $771.80 million for the quarter, compared to analysts’ expectations of $737.97 million. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 14.18%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.96 EPS. Sell-side analysts predict that Western Alliance Bancorporation will post 7.37 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Thursday, May 16th were issued a $0.37 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $1.48 annualized dividend and a yield of 1.82%. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Western Alliance Bancorporation during the 1st quarter worth approximately $27,000. GAMMA Investing LLC grew its position in shares of Western Alliance Bancorporation by 57.4% during 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 in the last quarter. ORG Partners LLC acquired a new position in shares of Western Alliance Bancorporation during the 2nd quarter worth approximately $36,000. Rakuten Securities Inc. acquired a new position in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $65,000. Finally, Versant Capital Management Inc grew its position in shares of Western Alliance Bancorporation by 26.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 244 shares in the last quarter. 79.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Western Alliance Bancorporation from $76.00 to $93.00 and gave the stock an “overweight” rating in a research note 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 research note on Monday, July 22nd. DA Davidson reduced their target price on shares of Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Hovde Group initiated coverage on shares of Western Alliance Bancorporation in a research note on Monday, April 22nd. They issued an “outperform” rating and a $75.00 target price for the company. Finally, Royal Bank of Canada boosted their price target on shares of Western Alliance Bancorporation from $78.00 to $87.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Western Alliance Bancorporation 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.