Western Alliance Bancorporation $WAL Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in Western Alliance Bancorporation (NYSE:WAL) by 6.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,317 shares of the financial services provider’s stock after acquiring an additional 136 shares during the period. GAMMA Investing LLC’s holdings in Western Alliance Bancorporation were worth $181,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in WAL. Invesco Ltd. boosted its position in shares of Western Alliance Bancorporation by 5.9% in the 1st quarter. Invesco Ltd. now owns 6,076,021 shares of the financial services provider’s stock valued at $466,821,000 after purchasing an additional 339,758 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in Western Alliance Bancorporation by 0.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,604,755 shares of the financial services provider’s stock valued at $276,954,000 after buying an additional 26,995 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Western Alliance Bancorporation by 1.3% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,909,003 shares of the financial services provider’s stock valued at $146,668,000 after buying an additional 25,260 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Western Alliance Bancorporation by 0.3% in the first quarter. Northern Trust Corp now owns 914,816 shares of the financial services provider’s stock valued at $70,285,000 after acquiring an additional 2,762 shares during the period. Finally, Voya Investment Management LLC grew its position in shares of Western Alliance Bancorporation by 23.4% during the first quarter. Voya Investment Management LLC now owns 676,575 shares of the financial services provider’s stock worth $51,981,000 after acquiring an additional 128,362 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on WAL shares. Wells Fargo & Company reduced 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 research report on Monday, July 21st. National Bankshares set a $118.00 target price on shares of Western Alliance Bancorporation in a report on Wednesday. Truist Financial lowered their price target on Western Alliance Bancorporation from $96.00 to $93.00 and set a “buy” rating on the stock in a report on Monday, July 21st. Piper Sandler upped their price objective on 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, JPMorgan Chase & Co. increased their price objective on Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $88.31 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $98.10. The company has a 50-day simple moving average of $85.07 and a 200-day simple moving average of $78.00. The company has a market capitalization of $9.75 billion, a PE ratio of 11.60, a P/E/G ratio of 0.61 and a beta of 1.39.

Western Alliance Bancorporation (NYSE:WAL) last issued 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 company had revenue of $836.21 million for the quarter, compared to analyst estimates of $838.58 million. During the same period in the prior year, the business posted $1.75 earnings per share. Equities research analysts predict 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. Investors of record on Thursday, August 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend 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 presently 19.97%.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 2,500 shares of the business’s stock in a transaction 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 sale, the insider directly owned 24,759 shares in the company, valued at approximately $2,077,527.69. The trade was a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.75% of the company’s stock.

About Western Alliance Bancorporation

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.