American Century Companies Inc. Cuts Holdings in Western Alliance Bancorporation $WAL

American Century Companies Inc. decreased its holdings in Western Alliance Bancorporation (NYSE:WAL) by 5.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,454 shares of the financial services provider’s stock after selling 7,148 shares during the period. American Century Companies Inc. owned about 0.12% of Western Alliance Bancorporation worth $10,017,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of WAL. Hantz Financial Services Inc. raised its position in shares of Western Alliance Bancorporation by 995.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 526 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 478 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Western Alliance Bancorporation during the first quarter valued at about $58,000. National Bank of Canada FI grew its stake in Western Alliance Bancorporation by 22.7% in the first quarter. National Bank of Canada FI now owns 763 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 141 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Western Alliance Bancorporation by 1,614.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,269 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 1,195 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Western Alliance Bancorporation by 14.8% in the second quarter. Signaturefd LLC now owns 1,654 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 213 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Up 0.3%

Shares of WAL stock opened at $85.17 on Friday. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $95.00. The stock has a market cap of $9.37 billion, a P/E ratio of 10.53, a P/E/G ratio of 0.58 and a beta of 1.37. The stock has a 50 day moving average of $79.83 and a 200 day moving average of $80.66. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61.

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

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a yield of 2.0%. Western Alliance Bancorporation’s dividend payout ratio is presently 20.77%.

Insider Buying and Selling at Western Alliance Bancorporation

In other news, CFO Dale Gibbons bought 4,000 shares of the stock in a transaction dated Thursday, October 30th. The shares were acquired at an average cost of $77.00 per share, with a total value of $308,000.00. Following the purchase, the chief financial officer directly owned 300,358 shares in the company, valued at $23,127,566. The trade was a 1.35% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on WAL shares. UBS Group lowered their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Western Alliance Bancorporation in a research note on Tuesday. National Bankshares set a $118.00 price target on shares of Western Alliance Bancorporation in a report on Wednesday, September 24th. Cowen began coverage on Western Alliance Bancorporation in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. Finally, TD Cowen assumed coverage on Western Alliance Bancorporation in a research report on Thursday, September 25th. They issued a “buy” rating and a $118.00 price objective for the company. Thirteen investment 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $100.53.

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.