UBS Group AG Sells 20,360 Shares of Western Alliance Bancorporation (NYSE:WAL)

UBS Group AG decreased its holdings in Western Alliance Bancorporation (NYSE:WAL – Get Rating) by 19.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,239 shares of the financial services provider’s stock after selling 20,360 shares during the period. UBS Group AG owned 0.08% of Western Alliance Bancorporation worth $5,537,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Ronald Blue Trust Inc. purchased a new stake in shares of Western Alliance Bancorporation in the second quarter worth about $27,000. IFP Advisors Inc lifted its position in shares of Western Alliance Bancorporation by 106.4% in the third quarter. IFP Advisors Inc now owns 646 shares of the financial services provider’s stock worth $48,000 after buying an additional 333 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of Western Alliance Bancorporation in the first quarter worth about $64,000. TCTC Holdings LLC purchased a new stake in shares of Western Alliance Bancorporation in the second quarter worth about $56,000. Finally, Canada Pension Plan Investment Board lifted its position in shares of Western Alliance Bancorporation by 436.9% in the first quarter. Canada Pension Plan Investment Board now owns 800 shares of the financial services provider’s stock worth $66,000 after buying an additional 651 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Activity

In other news, insider Tim R. Bruckner sold 1,750 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $73.16, for a total transaction of $128,030.00. Following the completion of the transaction, the insider now owns 20,244 shares of the company’s stock, valued at $1,481,051.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.57% of the company’s stock.

Western Alliance Bancorporation Stock Up 0.7 %

WAL stock opened at $74.31 on Tuesday. The company has a market capitalization of $8.15 billion, a P/E ratio of 7.66, a PEG ratio of 0.69 and a beta of 1.43. The firm has a 50 day simple moving average of $68.01 and a 200-day simple moving average of $69.22. The company has a current ratio of 1.00, a quick ratio of 0.98 and a debt-to-equity ratio of 1.42. Western Alliance Bancorporation has a twelve month low of $54.86 and a twelve month high of $94.57.

Western Alliance Bancorporation (NYSE:WAL – Get Rating) last released its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $2.67 EPS for the quarter, hitting analysts’ consensus estimates of $2.67. Western Alliance Bancorporation had a net margin of 34.94% and a return on equity of 22.00%. The firm had revenue of $701.20 million during the quarter, compared to the consensus estimate of $733.13 million. During the same quarter in the previous year, the company posted $2.32 earnings per share. The firm’s revenue was up 25.0% on a year-over-year basis. On average, equities research analysts predict that Western Alliance Bancorporation will post 10.34 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 3rd. Stockholders of record on Friday, February 17th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, February 16th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 14.85%.

Analysts Set New Price Targets

WAL has been the topic of several research analyst reports. TheStreet raised Western Alliance Bancorporation from a “c+” rating to a “b” rating in a research note on Thursday, February 2nd. JPMorgan Chase & Co. dropped their price target on shares of Western Alliance Bancorporation from $89.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 13th. StockNews.com upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Stephens lifted their target price on shares of Western Alliance Bancorporation from $80.00 to $86.00 in a research note on Thursday, January 26th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $86.75.

Western Alliance Bancorporation Profile

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Western Alliance Bancorp is a bank holding company, which engages in the provision of deposit, lending, treasury management, international banking, and online banking products and services. It operates through the following business segments: Commercial, Consumer Related, and Corporate and Other. The Commercial segment focuses on delivering commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry.