Park Avenue Securities LLC Buys Shares of 2,672 Western Alliance Bancorporation $WAL

Park Avenue Securities LLC purchased a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,672 shares of the financial services provider’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also modified their holdings of the company. National Bank of Canada FI boosted its position in Western Alliance Bancorporation by 22.7% during the first quarter. National Bank of Canada FI now owns 763 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 141 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Western Alliance Bancorporation by 5.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,087 shares of the financial services provider’s stock worth $258,000 after buying an additional 166 shares in the last quarter. D.A. Davidson & CO. grew its stake in Western Alliance Bancorporation by 2.9% in the 1st quarter. D.A. Davidson & CO. now owns 6,056 shares of the financial services provider’s stock valued at $465,000 after acquiring an additional 169 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in Western Alliance Bancorporation by 3.4% during the 1st quarter. Crossmark Global Holdings Inc. now owns 5,993 shares of the financial services provider’s stock valued at $460,000 after acquiring an additional 197 shares in the last quarter. Finally, M&T Bank Corp raised its position in Western Alliance Bancorporation by 4.5% during the first quarter. M&T Bank Corp now owns 5,926 shares of the financial services provider’s stock worth $455,000 after acquiring an additional 256 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Down 1.0%

WAL stock opened at $85.89 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The company has a market cap of $9.48 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 0.60 and a beta of 1.35. The business has a fifty day simple moving average of $85.35 and a 200-day simple moving average of $78.18. Western Alliance Bancorporation has a 52 week low of $57.05 and a 52 week high of $98.10.

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

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Thursday, August 14th were issued a $0.38 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.52 annualized dividend and a yield of 1.8%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 19.97%.

Insider Transactions at Western Alliance Bancorporation

In other news, insider Tim R. Bruckner sold 2,500 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $83.91, for a total value of $209,775.00. Following the completion of the sale, the insider owned 24,759 shares of the company’s stock, valued at $2,077,527.69. This represents a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Piper Sandler increased their price target on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Truist Financial dropped their price target on Western Alliance Bancorporation from $96.00 to $93.00 and set a “buy” rating for the company in a research report on Monday, July 21st. TD Cowen started coverage on Western Alliance Bancorporation in a report on Thursday, September 25th. They issued a “buy” rating and a $118.00 price target for the company. DA Davidson increased their price objective 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. Finally, Barclays lifted their price objective on Western Alliance Bancorporation from $97.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.53.

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.