Thrivent Financial for Lutherans Sells 2,208,255 Shares of Western Alliance Bancorporation $WAL

Thrivent Financial for Lutherans lessened its holdings in Western Alliance Bancorporation (NYSE:WAL) by 98.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,354 shares of the financial services provider’s stock after selling 2,208,255 shares during the period. Thrivent Financial for Lutherans’ holdings in Western Alliance Bancorporation were worth $3,537,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its holdings in Western Alliance Bancorporation by 995.8% during the second quarter. Hantz Financial Services Inc. now owns 526 shares of the financial services provider’s stock valued at $41,000 after buying an additional 478 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Western Alliance Bancorporation by 241.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 713 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 504 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Western Alliance Bancorporation during the 1st quarter valued at about $58,000. EverSource Wealth Advisors LLC raised its stake in shares of Western Alliance Bancorporation by 128.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 840 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 472 shares in the last quarter. Finally, WFA of San Diego LLC acquired a new stake in Western Alliance Bancorporation in the 2nd quarter worth approximately $78,000. 79.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on WAL shares. Cowen assumed coverage on Western Alliance Bancorporation in a report on Wednesday, September 24th. They set a “buy” rating on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Western Alliance Bancorporation in a research report on Monday, December 15th. Industrial Alliance Securities set a $115.00 price target on shares of Western Alliance Bancorporation in a report on Friday. Finally, National Bankshares set a $118.00 price objective on Western Alliance Bancorporation in a research note on Wednesday, September 24th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.87.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $86.22 on Monday. The company’s fifty day moving average is $80.14 and its two-hundred day moving average is $81.77. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $94.40. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.80. The firm has a market capitalization of $9.49 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 0.60 and a beta of 1.37.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share for the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 12.93%. The business had revenue of $718.00 million during the quarter. Equities research analysts forecast 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. Stockholders of record on Thursday, November 13th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was 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 20.77%.

Insider Activity

In other news, CFO Dale Gibbons acquired 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, for a total transaction of $308,000.00. Following the completion of the transaction, the chief financial officer owned 300,358 shares in the company, valued at approximately $23,127,566. This trade represents a 1.35% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.75% of the company’s stock.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.