17,886 Shares in Western Alliance Bancorporation $WAL Acquired by Great Lakes Advisors LLC

Great Lakes Advisors LLC purchased a new position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 17,886 shares of the financial services provider's stock, valued at approximately $1,470,000.

Several other large investors also recently modified their holdings of the company. Independent Financial Group LLC acquired a new stake in shares of Western Alliance Bancorporation during the 1st quarter worth approximately $924,000. Hsbc Holdings PLC lifted its position in shares of Western Alliance Bancorporation by 635.0% during the 1st quarter. Hsbc Holdings PLC now owns 48,366 shares of the financial services provider's stock valued at $3,409,000 after acquiring an additional 41,786 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Western Alliance Bancorporation by 2,313.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 18,895 shares of the financial services provider's stock valued at $1,589,000 after acquiring an additional 18,112 shares during the period. Focus Partners Advisor Solutions LLC bought a new position in Western Alliance Bancorporation during the second quarter worth $1,877,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Western Alliance Bancorporation during the first quarter valued at about $3,450,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Ben Mucha sold 5,946 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $81.00, for a total transaction of $481,626.00. Following the transaction, the chief accounting officer owned 3,485 shares of the company's stock, valued at approximately $282,285. This represents a 63.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WAL. Weiss Ratings raised Western Alliance Bancorporation from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, May 26th. Piper Sandler upped their price objective on shares of Western Alliance Bancorporation from $92.00 to $97.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. TD Cowen lifted their price objective on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a "hold" rating in a report on Monday, July 27th. Wells Fargo & Company lifted their target price on Western Alliance Bancorporation from $79.00 to $90.00 and gave the company an "equal weight" rating in a research report on Monday, August 10th. Finally, DA Davidson set a $36.00 target price on Western Alliance Bancorporation in a report on Wednesday, July 22nd. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $95.47.

Western Alliance Bancorporation Stock Up 0.8%

Shares of NYSE WAL opened at $79.78 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.86 and a quick ratio of 0.81. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23. The firm's 50 day simple moving average is $81.41 and its two-hundred day simple moving average is $80.22. The stock has a market capitalization of $8.70 billion, a P/E ratio of 8.98, a PEG ratio of 0.76 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share 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 firm had revenue of $995.70 million during the quarter, compared to analysts' expectations of $980.53 million. During the same period in the previous year, the company earned $2.07 earnings per share. The firm's quarterly revenue was up 17.7% on a year-over-year basis. As a group, analysts expect that Western Alliance Bancorporation will post 9.16 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. Western Alliance Bancorporation's dividend payout ratio is currently 18.92%.

Western Alliance Bancorporation Company 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.

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