Western Alliance Bancorporation (NYSE:WAL) CAO Sells $481,626.00 in Stock

Western Alliance Bancorporation (NYSE:WAL) CAO Ben Mucha sold 5,946 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $81.00, for a total transaction of $481,626.00. Following the transaction, the chief accounting officer owned 3,485 shares in the company, valued at $282,285. The trade was a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Western Alliance Bancorporation Stock Performance

WAL opened at $83.47 on Friday. The firm has a market capitalization of $9.11 billion, a PE ratio of 9.72, a PEG ratio of 0.63 and a beta of 1.34. Western Alliance Bancorporation has a twelve month low of $65.82 and a twelve month high of $97.23. The firm’s 50-day moving average price is $78.46 and its 200 day moving average price is $81.93. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.74. The firm had revenue of $968.40 million for the quarter, compared to analyst estimates of $944.18 million. Western Alliance Bancorporation had a net margin of 17.03% and a return on equity of 13.58%. Western Alliance Bancorporation’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.79 earnings per share. As a group, sell-side analysts expect that Western Alliance Bancorporation will post 9.8 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.68 dividend on an annualized basis and a yield of 2.0%. Western Alliance Bancorporation’s payout ratio is presently 19.56%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on WAL shares. Piper Sandler lowered their price target on shares of Western Alliance Bancorporation from $94.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. UBS Group boosted their price target on shares of Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Weiss Ratings upgraded shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Barclays lowered their price target on shares of Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Finally, Jefferies Financial Group restated an “overweight” rating and set a $105.00 price target on shares of Western Alliance Bancorporation in a research report on Friday, March 6th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Western Alliance Bancorporation has an average rating of “Moderate Buy” and an average target price of $92.93.

Hedge Funds Weigh In On Western Alliance Bancorporation

Institutional investors and hedge funds have recently bought and sold shares of the company. Clearstead Advisors LLC boosted its holdings in Western Alliance Bancorporation by 144.6% in the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 243 shares during the last quarter. Community Bank N.A. acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at about $37,000. Smartleaf Asset Management LLC boosted its holdings in Western Alliance Bancorporation by 113.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 443 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 235 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Western Alliance Bancorporation in the 4th quarter valued at about $38,000. Finally, Leonteq Securities AG acquired a new position in Western Alliance Bancorporation in the 4th quarter valued at about $44,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Company Profile

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.