3,007 Shares in Western Alliance Bancorporation $WAL Purchased by Truist Financial Corp

Truist Financial Corp purchased a new position in shares of Western Alliance Bancorporation (NYSE:WALFree Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,007 shares of the financial services provider’s stock, valued at approximately $234,000.

Other large investors also recently added to or reduced their stakes in the company. HWG Holdings LP acquired a new stake in shares of Western Alliance Bancorporation in the 1st quarter valued at approximately $25,000. Tsfg LLC bought a new stake in shares of Western Alliance Bancorporation in the first quarter worth $33,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Western Alliance Bancorporation during the first quarter worth $58,000. National Bank of Canada FI raised 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 acquiring an additional 141 shares in the last quarter. Finally, Signaturefd LLC raised its position in Western Alliance Bancorporation by 14.8% during the second quarter. Signaturefd LLC now owns 1,654 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 213 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Western Alliance Bancorporation

In related news, insider Tim R. Bruckner sold 2,500 shares of Western Alliance Bancorporation 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 approximately $2,077,527.69. This trade represents a 9.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.68% of the company’s stock.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock opened at $72.63 on Friday. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 0.52 and a beta of 1.35. Western Alliance Bancorporation has a 52 week low of $57.05 and a 52 week high of $98.10. 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 firm has a 50 day moving average of $85.64 and a 200-day moving average of $78.42.

Western Alliance Bancorporation (NYSE:WALGet Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $1.91 EPS for the quarter. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. The company had revenue of $718.00 million during the quarter. On average, equities analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Thursday, August 14th were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.52 annualized dividend and a yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 19.97%.

Analyst Upgrades and Downgrades

Several research firms have commented on WAL. Truist Financial set a $92.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, October 10th. National Bankshares set a $118.00 price objective on shares of Western Alliance Bancorporation in a research note on Wednesday, September 24th. Citigroup reissued a “neutral” rating on shares of Western Alliance Bancorporation in a report on Tuesday, August 26th. Industrial Alliance Securities set a $112.00 price objective on shares of Western Alliance Bancorporation in a report on Wednesday, October 8th. Finally, Piper Sandler increased their target price 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. Thirteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.14.

Read Our Latest Analysis on WAL

About Western Alliance Bancorporation

(Free Report)

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.

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Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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