Riverwater Partners LLC Trims Holdings in Western Alliance Bancorporation (NYSE:WAL)

Riverwater Partners LLC cut its holdings in Western Alliance Bancorporation (NYSE:WAL) by 23.5% during the third quarter, HoldingsChannel reports. The firm owned 22,329 shares of the financial services provider’s stock after selling 6,862 shares during the period. Western Alliance Bancorporation comprises about 0.9% of Riverwater Partners LLC’s investment portfolio, making the stock its 28th biggest holding. Riverwater Partners LLC’s holdings in Western Alliance Bancorporation were worth $1,854,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Western Alliance Bancorporation during the first quarter worth $27,000. V Square Quantitative Management LLC purchased a new position in Western Alliance Bancorporation in the third quarter worth $31,000. GAMMA Investing LLC lifted its holdings in Western Alliance Bancorporation by 57.4% in the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 183 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth $33,000. Finally, ORG Partners LLC purchased a new position in shares of Western Alliance Bancorporation in the 2nd quarter valued at about $36,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Price Performance

Shares of Western Alliance Bancorporation stock opened at $82.34 on Thursday. The stock has a market capitalization of $9.06 billion, a P/E ratio of 12.71, a PEG ratio of 1.28 and a beta of 1.44. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The business’s fifty day moving average price is $83.04 and its 200 day moving average price is $71.03. Western Alliance Bancorporation has a twelve month low of $38.81 and a twelve month high of $94.28.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 22.84%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WAL shares. Truist Financial lowered their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday. Wells Fargo & Company raised their price objective on Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. Wedbush boosted their target price on Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Bank of America raised their price target on Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $92.60.

Insider Activity at Western Alliance Bancorporation

In other news, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the transaction, the director now owns 4,056 shares of the company’s stock, valued at approximately $335,634. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Stephen Russell Curley sold 5,070 shares of Western Alliance Bancorporation stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total transaction of $387,500.10. Following the sale, the insider now owns 36,718 shares in the company, valued at $2,806,356.74. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert P. Latta sold 2,996 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the transaction, the director now owns 4,056 shares of the company’s stock, valued at $335,634. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,149 shares of company stock worth $1,539,681. Company insiders own 2.75% of the company’s stock.

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.