Western Alliance Bancorporation $WAL Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC raised its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 568.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,355 shares of the financial services provider’s stock after buying an additional 14,757 shares during the period. SG Americas Securities LLC’s holdings in Western Alliance Bancorporation were worth $1,505,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Western Alliance Bancorporation in the 3rd quarter worth $26,000. Salomon & Ludwin LLC acquired a new position in shares of Western Alliance Bancorporation in the 3rd quarter valued at $27,000. Hantz Financial Services Inc. increased its stake in Western Alliance Bancorporation by 995.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 526 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 478 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in Western Alliance Bancorporation during the 3rd quarter worth about $47,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Western Alliance Bancorporation by 241.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 713 shares of the financial services provider’s stock valued at $56,000 after buying an additional 504 shares in the last quarter. 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 company’s stock in a transaction that occurred on Thursday, October 30th. The shares were purchased at an average price of $77.00 per share, for a total transaction of $308,000.00. Following the completion of the acquisition, the chief financial officer owned 300,358 shares of the company’s stock, valued at approximately $23,127,566. This represents a 1.35% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group reissued a “buy” rating and issued a $107.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, January 6th. Truist Financial set a $98.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday, January 9th. Keefe, Bruyette & Woods cut their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. TD Cowen decreased their target price on Western Alliance Bancorporation from $109.00 to $108.00 and set a “buy” rating for the company in a research report on Wednesday, January 7th. Finally, Wall Street Zen raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.20.

Western Alliance Bancorporation Trading Up 1.7%

Western Alliance Bancorporation stock opened at $89.83 on Friday. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $94.40. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The stock has a market cap of $9.89 billion, a P/E ratio of 11.10, a P/E/G ratio of 0.54 and a beta of 1.34. The company’s fifty day simple moving average is $83.85 and its 200-day simple moving average is $83.39.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.17. Western Alliance Bancorporation had a return on equity of 12.93% and a net margin of 17.14%.The firm had revenue of $841.30 million during the quarter, compared to analysts’ expectations of $891.04 million. During the same quarter last year, the firm earned $1.80 earnings per share. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Thursday, November 13th were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, November 13th. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. This is a positive change 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.