Sequoia Financial Advisors LLC Reduces Holdings in Western Alliance Bancorporation $WAL

Sequoia Financial Advisors LLC trimmed its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 12.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,657 shares of the financial services provider’s stock after selling 8,708 shares during the quarter. Sequoia Financial Advisors LLC owned approximately 0.06% of Western Alliance Bancorporation worth $4,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. NewEdge Advisors LLC lifted its position in Western Alliance Bancorporation by 71.2% in the first quarter. NewEdge Advisors LLC now owns 7,815 shares of the financial services provider’s stock valued at $600,000 after purchasing an additional 3,249 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Western Alliance Bancorporation by 513.5% during the 1st quarter. Jones Financial Companies Lllp now owns 1,730 shares of the financial services provider’s stock valued at $133,000 after buying an additional 1,448 shares during the period. Goldman Sachs Group Inc. grew its holdings in Western Alliance Bancorporation by 24.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 111,883 shares of the financial services provider’s stock worth $8,596,000 after acquiring an additional 21,642 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Western Alliance Bancorporation by 11.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,529 shares of the financial services provider’s stock valued at $26,701,000 after acquiring an additional 35,276 shares during the period. Finally, Cetera Investment Advisers increased its position in shares of Western Alliance Bancorporation by 11.3% in the second quarter. Cetera Investment Advisers now owns 7,017 shares of the financial services provider’s stock valued at $547,000 after acquiring an additional 713 shares during the period. 79.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $81.00, for a total transaction of $481,626.00. Following the completion of the transaction, the chief accounting officer owned 3,485 shares of the company’s stock, valued at approximately $282,285. This trade represents a 63.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.76% of the company’s stock.

Western Alliance Bancorporation Stock Up 0.0%

Shares of NYSE:WAL opened at $80.69 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 0.86. Western Alliance Bancorporation has a 52-week low of $65.82 and a 52-week high of $97.23. The firm has a market capitalization of $8.81 billion, a P/E ratio of 9.39, a P/E/G ratio of 0.73 and a beta of 1.34. The stock has a 50 day moving average price of $79.99 and a 200-day moving average price of $81.44.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.74. The company had revenue of $968.40 million for the quarter, compared to analysts’ expectations of $944.18 million. Western Alliance Bancorporation had a return on equity of 13.58% and a net margin of 17.03%.The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.79 earnings per share. As a group, equities research analysts anticipate that Western Alliance Bancorporation will post 9.49 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.68 annualized dividend and a yield of 2.1%. Western Alliance Bancorporation’s payout ratio is presently 19.56%.

Wall Street Analyst Weigh In

WAL has been the subject of a number of analyst reports. Barclays dropped their target price on shares of Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. UBS Group upped their price target on Western Alliance Bancorporation from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. DA Davidson dropped their price objective on Western Alliance Bancorporation from $93.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Keefe, Bruyette & Woods lifted their price objective on Western Alliance Bancorporation from $93.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Finally, Citigroup boosted their target price on Western Alliance Bancorporation from $96.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.00.

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.