Hsbc Holdings PLC Purchases 511 Shares of Western Alliance Bancorporation $WAL

Hsbc Holdings PLC raised its position in Western Alliance Bancorporation (NYSE:WAL) by 15.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,731 shares of the financial services provider’s stock after purchasing an additional 511 shares during the quarter. Hsbc Holdings PLC’s holdings in Western Alliance Bancorporation were worth $287,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in shares of Western Alliance Bancorporation by 0.5% in the fourth quarter. Ameriprise Financial Inc. now owns 355,830 shares of the financial services provider’s stock valued at $29,726,000 after buying an additional 1,743 shares during the period. Cetera Investment Advisers increased its stake in shares of Western Alliance Bancorporation by 18.8% in the fourth quarter. Cetera Investment Advisers now owns 4,940 shares of the financial services provider’s stock valued at $413,000 after buying an additional 781 shares during the period. EP Wealth Advisors LLC increased its stake in shares of Western Alliance Bancorporation by 14.8% in the fourth quarter. EP Wealth Advisors LLC now owns 4,770 shares of the financial services provider’s stock valued at $399,000 after buying an additional 615 shares during the period. Driehaus Capital Management LLC increased its stake in shares of Western Alliance Bancorporation by 5.1% in the fourth quarter. Driehaus Capital Management LLC now owns 685,010 shares of the financial services provider’s stock valued at $57,226,000 after buying an additional 33,195 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at about $7,309,000. 79.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WAL has been the subject of several recent research reports. DA Davidson increased their price target on Western Alliance Bancorporation from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Industrial Alliance Securities set a $104.00 price target on Western Alliance Bancorporation in a research note on Tuesday, August 26th. Citigroup reaffirmed a “neutral” rating on shares of Western Alliance Bancorporation in a research note on Tuesday, August 26th. Barclays raised their target price on Western Alliance Bancorporation from $97.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Finally, Truist Financial decreased their target price on 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. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and an average price target of $97.79.

Western Alliance Bancorporation Trading Up 2.0%

Shares of Western Alliance Bancorporation stock opened at $91.29 on Friday. 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 has a 52 week low of $57.05 and a 52 week high of $98.10. The stock has a 50 day moving average price of $83.09 and a two-hundred day moving average price of $77.37. The stock has a market capitalization of $10.08 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 0.62 and a beta of 1.39.

Western Alliance Bancorporation (NYSE:WAL) last announced 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. Western Alliance Bancorporation had a return on equity of 12.62% and a net margin of 16.39%.The firm had revenue of $836.21 million during the quarter, compared to analysts’ expectations of $838.58 million. During the same quarter last year, the firm posted $1.75 earnings per share. As a group, equities analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 14th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, August 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 19.97%.

Insider Activity

In related news, insider Tim R. Bruckner sold 2,500 shares of Western Alliance Bancorporation stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $83.91, for a total transaction of $209,775.00. Following the transaction, the insider owned 24,759 shares of the company’s stock, valued at $2,077,527.69. The trade was a 9.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.68% of the stock is currently owned by insiders.

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.