Perpetual Ltd Makes New $31.07 Million Investment in Western Alliance Bancorporation $WAL

Perpetual Ltd purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 358,303 shares of the financial services provider’s stock, valued at approximately $31,072,000. Perpetual Ltd owned 0.32% of Western Alliance Bancorporation as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Hantz Financial Services Inc. grew its position in Western Alliance Bancorporation by 995.8% during the second quarter. Hantz Financial Services Inc. now owns 526 shares of the financial services provider’s stock valued at $41,000 after buying an additional 478 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Western Alliance Bancorporation by 241.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 713 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 504 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Western Alliance Bancorporation during the 1st quarter worth $58,000. EverSource Wealth Advisors LLC grew its position in shares of Western Alliance Bancorporation by 128.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 840 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 472 shares during the period. Finally, WFA of San Diego LLC purchased a new stake in shares of Western Alliance Bancorporation in the 2nd quarter worth $78,000. Institutional investors own 79.15% of the company’s stock.

Insider Activity at Western Alliance Bancorporation

In other news, CFO Dale Gibbons acquired 4,000 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was purchased at an average price of $77.00 per share, for a total transaction of $308,000.00. Following the completion of the transaction, the chief financial officer directly owned 300,358 shares in the company, valued at approximately $23,127,566. This trade represents a 1.35% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods lowered their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. Barclays raised their price objective on Western Alliance Bancorporation from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday. Industrial Alliance Securities set a $115.00 price objective on Western Alliance Bancorporation in a research note on Friday. Wall Street Zen upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Truist Financial lifted their price target on shares of Western Alliance Bancorporation from $92.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.87.

Western Alliance Bancorporation Trading Down 0.7%

Shares of WAL opened at $86.22 on Friday. The firm has a market cap of $9.49 billion, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 0.60 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.80. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $94.40. The company has a 50 day simple moving average of $80.14 and a two-hundred day simple moving average of $81.64.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Wednesday, February 14th. The financial services provider reported $1.91 EPS for the quarter. The firm had revenue of $718.00 million for the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 12.93%. On average, equities analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.9%. The ex-dividend date was Thursday, November 13th. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. Western Alliance Bancorporation’s dividend payout ratio is presently 20.77%.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.