Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its stake in Western Alliance Bancorporation (NYSE:WALFree Report) by 78.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,173 shares of the financial services provider’s stock after selling 84,687 shares during the quarter. Hsbc Holdings PLC’s holdings in Western Alliance Bancorporation were worth $1,534,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Parkside Financial Bank & Trust increased its stake in shares of Western Alliance Bancorporation by 422.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 760 shares in the last quarter. Rakuten Securities Inc. purchased a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at about $65,000. Fortitude Family Office LLC purchased a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at about $93,000. Busey Bank purchased a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at about $202,000. Finally, Buckley Wealth Management LLC purchased a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at about $207,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Down 0.3 %

WAL opened at $58.77 on Friday. Western Alliance Bancorporation has a one year low of $34.45 and a one year high of $70.23. The stock has a market capitalization of $6.47 billion, a PE ratio of 8.57, a P/E/G ratio of 1.11 and a beta of 1.46. The business’s 50 day moving average price is $60.68 and its 200 day moving average price is $60.59. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.87 and a current ratio of 0.90.

Western Alliance Bancorporation (NYSE:WALGet Free Report) last released its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. Western Alliance Bancorporation had a return on equity of 14.77% and a net margin of 16.50%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $711.34 million. During the same period in the prior year, the firm posted $2.30 earnings per share. As a group, equities research analysts expect that Western Alliance Bancorporation will post 7.44 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Thursday, May 16th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Wednesday, May 15th. Western Alliance Bancorporation’s dividend payout ratio is presently 21.57%.

Insider Activity at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CAO J. Kelly Jr. Ardrey sold 1,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $64.20, for a total transaction of $64,200.00. Following the transaction, the chief accounting officer now directly owns 5,636 shares in the company, valued at $361,831.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.75% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WAL. StockNews.com lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Wedbush reiterated an “outperform” rating and set a $70.00 price objective on shares of Western Alliance Bancorporation in a research note on Wednesday, May 8th. Jefferies Financial Group cut their price objective on Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, April 8th. JPMorgan Chase & Co. cut their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, DA Davidson cut their price objective on Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.47.

Get Our Latest Analysis on Western Alliance Bancorporation

About Western Alliance Bancorporation

(Free Report)

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.

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Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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