7,206 Shares in Western Alliance Bancorporation $WAL Acquired by West Family Investments Inc.

West Family Investments Inc. bought a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,206 shares of the financial services provider’s stock, valued at approximately $592,000.

Several other large investors also recently bought and sold shares of the stock. M&T Bank Corp raised its holdings in Western Alliance Bancorporation by 7,920.9% during the fourth quarter. M&T Bank Corp now owns 315,624 shares of the financial services provider’s stock worth $26,535,000 after purchasing an additional 311,689 shares in the last quarter. Independent Financial Group LLC acquired a new position in Western Alliance Bancorporation during the first quarter worth approximately $924,000. Northwestern Mutual Wealth Management Co. increased its position in Western Alliance Bancorporation by 2,313.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 18,895 shares of the financial services provider’s stock worth $1,589,000 after buying an additional 18,112 shares during the period. Hsbc Holdings PLC increased its holdings in shares of Western Alliance Bancorporation by 635.0% in the 1st quarter. Hsbc Holdings PLC now owns 48,366 shares of the financial services provider’s stock valued at $3,409,000 after acquiring an additional 41,786 shares during the period. Finally, Focus Partners Advisor Solutions LLC acquired a new position in Western Alliance Bancorporation in the second quarter valued at $1,877,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Insider Activity at Western Alliance Bancorporation

In other news, CAO Ben Mucha sold 5,946 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $81.00, for a total value of $481,626.00. Following the completion of the sale, the chief accounting officer owned 3,485 shares of the company’s stock, valued at $282,285. This represents a 63.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WAL. JPMorgan Chase & Co. upped their price objective on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Piper Sandler increased their target price on Western Alliance Bancorporation from $92.00 to $97.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Truist Financial upped their price objective on Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Mizuho set a $96.00 target price on Western Alliance Bancorporation in a report on Thursday, July 23rd. Finally, DA Davidson set a $36.00 target price on shares of Western Alliance Bancorporation in a research report on Wednesday, July 22nd. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.47.

Western Alliance Bancorporation Trading Down 0.7%

NYSE WAL opened at $80.17 on Thursday. The company has a market cap of $8.75 billion, a P/E ratio of 9.03, a P/E/G ratio of 0.78 and a beta of 1.34. Western Alliance Bancorporation has a 12 month low of $65.82 and a 12 month high of $97.23. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.86 and a quick ratio of 0.81. The company has a 50-day moving average of $81.55 and a 200-day moving average of $80.29.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.36. The company had revenue of $995.70 million during the quarter, compared to analysts’ expectations of $980.53 million. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.40%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.07 EPS. As a group, equities analysts predict that Western Alliance Bancorporation will post 9.16 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, August 13th. Western Alliance Bancorporation’s payout ratio is 18.92%.

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.