Angel Oak Capital Advisors LLC Has $858,000 Holdings in Western Alliance Bancorporation $WAL

Angel Oak Capital Advisors LLC lifted its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 10.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,000 shares of the financial services provider’s stock after buying an additional 1,000 shares during the quarter. Western Alliance Bancorporation comprises approximately 1.2% of Angel Oak Capital Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. Angel Oak Capital Advisors LLC’s holdings in Western Alliance Bancorporation were worth $858,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of Western Alliance Bancorporation in the 1st quarter worth $45,486,000. FJ Capital Management LLC boosted its stake in Western Alliance Bancorporation by 824.8% during the 1st quarter. FJ Capital Management LLC now owns 442,507 shares of the financial services provider’s stock worth $33,998,000 after acquiring an additional 394,660 shares during the last quarter. Invesco Ltd. grew its holdings in Western Alliance Bancorporation by 5.9% during the first 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. Kingstone Capital Partners Texas LLC bought a new stake in Western Alliance Bancorporation in the second quarter valued at approximately $20,390,000. Finally, Voya Investment Management LLC raised its holdings in Western Alliance Bancorporation by 23.4% in the first 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.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $78.11 on Friday. The company has a market cap of $8.60 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 0.52 and a beta of 1.45. The firm has a 50-day moving average of $82.73 and a 200-day moving average of $80.11. Western Alliance Bancorporation has a one year low of $57.05 and a one year high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.79.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $1.91 EPS for the quarter. The business had revenue of $718.00 million during the quarter. Western Alliance Bancorporation had a return on equity of 12.93% and a net margin of 17.14%. As a group, equities analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, November 13th. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. Western Alliance Bancorporation’s payout ratio is presently 20.77%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WAL. Barclays reissued an “overweight” rating on shares of Western Alliance Bancorporation in a report on Wednesday, October 8th. DA Davidson boosted their target price 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. Truist Financial raised their price target on Western Alliance Bancorporation from $92.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Royal Bank Of Canada boosted their price objective on Western Alliance Bancorporation from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Finally, Piper Sandler boosted their price objective 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 equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.53.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CFO Dale Gibbons purchased 4,000 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was acquired at an average price of $77.00 per share, with a total value of $308,000.00. Following the acquisition, the chief financial officer directly owned 300,358 shares of the company’s stock, valued at $23,127,566. This trade represents a 1.35% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.68% of the stock is owned by corporate insiders.

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.