Western Alliance Bancorporation $WAL Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its stake in Western Alliance Bancorporation (NYSE:WAL) by 17.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,842 shares of the financial services provider’s stock after buying an additional 580 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Western Alliance Bancorporation were worth $327,000 at the end of the most recent reporting period.

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

Insider Activity

In other 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 value of $209,775.00. Following the completion of the transaction, the insider directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Cowen assumed coverage on shares of Western Alliance Bancorporation in a research note on Wednesday, September 24th. They set a “buy” rating for the company. JPMorgan Chase & Co. increased their price objective on Western Alliance Bancorporation from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. National Bankshares set a $118.00 price objective on Western Alliance Bancorporation in a research report on Wednesday, September 24th. Citigroup reaffirmed a “neutral” rating on shares of Western Alliance Bancorporation in a report on Tuesday, August 26th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Western Alliance Bancorporation in a report on Wednesday. Thirteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $102.14.

Western Alliance Bancorporation Trading Down 4.2%

NYSE:WAL opened at $82.36 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 capitalization of $9.09 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 0.59 and a beta of 1.35. The stock has a fifty day simple moving average of $85.80 and a 200-day simple moving average of $78.49. 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 earnings results on Thursday, July 17th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.03. The company had revenue of $836.21 million during the quarter, compared to analysts’ expectations 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 previous year, the business posted $1.75 earnings per share. On average, equities research analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Thursday, August 14th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Thursday, August 14th. Western Alliance Bancorporation’s payout ratio is currently 19.97%.

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.