Entropy Technologies LP Purchases 12,029 Shares of Western Alliance Bancorporation $WAL

Entropy Technologies LP lifted its position in Western Alliance Bancorporation (NYSE:WAL) by 107.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,200 shares of the financial services provider’s stock after purchasing an additional 12,029 shares during the quarter. Entropy Technologies LP’s holdings in Western Alliance Bancorporation were worth $1,644,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WAL. Clearstead Advisors LLC grew its stake in Western Alliance Bancorporation by 144.6% in the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock worth $35,000 after buying an additional 243 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Western Alliance Bancorporation during the fourth quarter worth about $38,000. Assetmark Inc. increased its position in shares of Western Alliance Bancorporation by 86.0% during the 1st quarter. Assetmark Inc. now owns 560 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 259 shares during the last quarter. Leonteq Securities AG purchased a new position in shares of Western Alliance Bancorporation during the 4th quarter valued at about $44,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Western Alliance Bancorporation during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Insider Activity

In related news, CAO Ben Mucha sold 5,946 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $81.00, for a total value of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares of the company’s stock, valued at approximately $282,285. The trade was a 63.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stephens set a $95.00 target price on Western Alliance Bancorporation and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. upped their target price on Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Barclays dropped their target price on shares of Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. UBS Group lifted their target price on shares of Western Alliance Bancorporation from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Finally, Weiss Ratings raised Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $94.82.

Western Alliance Bancorporation Trading Down 0.4%

Western Alliance Bancorporation stock opened at $82.80 on Tuesday. The business has a 50-day simple moving average of $80.69 and a two-hundred day simple moving average of $81.13. Western Alliance Bancorporation has a 52-week low of $65.82 and a 52-week high of $97.23. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.93. The company has a market cap of $9.04 billion, a P/E ratio of 9.32, a P/E/G ratio of 0.78 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.36. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.40%. The company had revenue of $995.70 million during the quarter, compared to analyst estimates of $980.53 million. During the same period in the previous year, the business posted $2.07 earnings per share. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. Analysts predict that Western Alliance Bancorporation will post 9.24 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.0%. Western Alliance Bancorporation’s dividend payout ratio is 18.92%.

Western Alliance Bancorporation Profile

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.