Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. cut its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 17.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,166 shares of the financial services provider’s stock after selling 2,799 shares during the period. Atria Wealth Solutions Inc.’s holdings in Western Alliance Bancorporation were worth $1,012,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. MidWestOne Financial Group Inc. increased its position in shares of Western Alliance Bancorporation by 0.6% during the fourth quarter. MidWestOne Financial Group Inc. now owns 26,646 shares of the financial services provider’s stock worth $2,226,000 after purchasing an additional 160 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Western Alliance Bancorporation by 5.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,087 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 166 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Western Alliance Bancorporation by 2.9% during the first quarter. D.A. Davidson & CO. now owns 6,056 shares of the financial services provider’s stock worth $465,000 after purchasing an additional 169 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Western Alliance Bancorporation by 3.4% during the first quarter. Crossmark Global Holdings Inc. now owns 5,993 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 197 shares in the last quarter. Finally, RiverPark Advisors LLC increased its position in shares of Western Alliance Bancorporation by 14.1% during the fourth quarter. RiverPark Advisors LLC now owns 2,041 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 253 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WAL. Wells Fargo & Company decreased their price target on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, July 21st. JPMorgan Chase & Co. raised their price target on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. DA Davidson lifted their price objective on shares of Western Alliance Bancorporation from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Truist Financial decreased their price objective on shares of Western Alliance Bancorporation from $96.00 to $93.00 and set a “buy” rating for the company in a research note on Monday, July 21st. Finally, Jefferies Financial Group began coverage on shares of Western Alliance Bancorporation in a research note on Wednesday, May 21st. They set a “buy” rating and a $95.00 price objective for the company. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.62.

Western Alliance Bancorporation Price Performance

NYSE:WAL opened at $77.55 on Tuesday. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $98.10. The stock has a 50 day moving average of $78.56 and a two-hundred day moving average of $77.51. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. The firm has a market cap of $8.56 billion, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 0.55 and a beta of 1.33.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.03. The company had revenue of $836.21 million during the quarter, compared to the consensus estimate of $838.58 million. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. During the same quarter in the prior year, the firm earned $1.75 EPS. On average, analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Thursday, August 14th will be issued a $0.38 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.0%. Western Alliance Bancorporation’s dividend payout ratio is presently 19.97%.

Insider Buying and Selling

In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 2,500 shares of the business’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $83.91, for a total value of $209,775.00. Following the transaction, the insider directly owned 24,759 shares in the company, valued at $2,077,527.69. The trade was a 9.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation 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.