US Bancorp DE Acquires 934 Shares of Western Alliance Bancorporation (NYSE:WAL)

US Bancorp DE raised its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 16.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,458 shares of the financial services provider’s stock after purchasing an additional 934 shares during the quarter. US Bancorp DE’s holdings in Western Alliance Bancorporation were worth $559,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WAL. Allspring Global Investments Holdings LLC bought a new stake in shares of Western Alliance Bancorporation during the 1st quarter worth about $27,000. SG Americas Securities LLC grew its position in shares of Western Alliance Bancorporation by 1,706.9% in the first quarter. SG Americas Securities LLC now owns 30,898 shares of the financial services provider’s stock valued at $1,983,000 after purchasing an additional 29,188 shares during the last quarter. Inspire Investing LLC increased its stake in shares of Western Alliance Bancorporation by 116.2% during the first quarter. Inspire Investing LLC now owns 12,553 shares of the financial services provider’s stock worth $806,000 after purchasing an additional 6,748 shares during the period. Russell Investments Group Ltd. lifted its holdings in Western Alliance Bancorporation by 0.6% during the 1st quarter. Russell Investments Group Ltd. now owns 29,768 shares of the financial services provider’s stock worth $1,911,000 after purchasing an additional 164 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in Western Alliance Bancorporation in the 1st quarter valued at $395,000. 79.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Western Alliance Bancorporation

In other news, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the sale, the director now directly owns 4,056 shares in the company, valued at $335,634. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $81.59, for a total value of $904,261.97. Following the sale, the insider now owns 7,977 shares in the company, valued at $650,843.43. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the transaction, the director now directly owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Stock Performance

WAL stock opened at $89.87 on Monday. The firm has a market cap of $9.89 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.42 and a beta of 1.44. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $84.55 and a 200-day moving average price of $73.38. Western Alliance Bancorporation has a 1-year low of $43.20 and a 1-year high of $96.45.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The business had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. As a group, equities research analysts expect that Western Alliance Bancorporation will post 7.13 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.69%. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 22.84%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. reduced their price target on Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Finally, Stephens reaffirmed an “overweight” rating and issued a $102.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

Western Alliance Bancorporation Company Profile

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.