Western Alliance Bancorporation $WAL Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 16.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,078 shares of the financial services provider’s stock after purchasing an additional 4,895 shares during the period. Russell Investments Group Ltd.’s holdings in Western Alliance Bancorporation were worth $2,618,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. grew its stake in shares of Western Alliance Bancorporation by 5.9% during the first quarter. Invesco Ltd. now owns 6,076,021 shares of the financial services provider’s stock worth $466,821,000 after purchasing an additional 339,758 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Western Alliance Bancorporation by 23.5% during the fourth quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider’s stock worth $195,616,000 after purchasing an additional 445,176 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Western Alliance Bancorporation by 1.3% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,909,003 shares of the financial services provider’s stock worth $146,668,000 after purchasing an additional 25,260 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Western Alliance Bancorporation by 55.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider’s stock worth $151,604,000 after purchasing an additional 648,983 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Western Alliance Bancorporation by 16.1% during the fourth quarter. Northern Trust Corp now owns 912,054 shares of the financial services provider’s stock worth $76,193,000 after purchasing an additional 126,158 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Insider Buying and Selling at Western Alliance Bancorporation

In other news, insider Tim R. Bruckner sold 2,500 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $83.91, for a total transaction of $209,775.00. Following the completion of the sale, the insider owned 24,759 shares in the company, valued at approximately $2,077,527.69. This represents a 9.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on WAL shares. JPMorgan Chase & Co. boosted their target price on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. 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. Barclays upped their price objective on shares of Western Alliance Bancorporation from $97.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Piper Sandler upped their price objective on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. Finally, Wall Street Zen upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Wednesday, May 21st. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Western Alliance Bancorporation has an average rating of “Moderate Buy” and a consensus target price of $96.62.

Western Alliance Bancorporation Price Performance

Shares of WAL opened at $87.1870 on Monday. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10. The company has a market capitalization of $9.62 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 0.60 and a beta of 1.33. The firm has a 50-day simple moving average of $80.35 and a 200-day simple moving average of $77.16. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 0.86.

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

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.7%. Western Alliance Bancorporation’s dividend payout ratio is 19.97%.

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.