Kingstone Capital Partners Texas LLC Takes Position in Western Alliance Bancorporation $WAL

Key Points

• Kingstone Capital Partners Texas LLC acquired 261,478 shares of Western Alliance Bancorporation, valued at approximately $20.39 million, representing a 0.24% ownership in the company.
• Despite fluctuations, research analysts are generally optimistic, with a consensus average price target of $97.79 and twelve analysts rating the stock as a Buy.
• Western Alliance Bancorporation recently announced a $0.38 quarterly dividend, yielding 1.7%, with a payout ratio of 19.97%.

Kingstone Capital Partners Texas LLC acquired a new stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 261,478 shares of the financial services provider's stock, valued at approximately $20,390,000. Kingstone Capital Partners Texas LLC owned approximately 0.24% of Western Alliance Bancorporation at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in WAL. Invesco Ltd. increased its holdings in Western Alliance Bancorporation by 5.9% in the first quarter. Invesco Ltd. now owns 6,076,021 shares of the financial services provider's stock valued at $466,821,000 after buying an additional 339,758 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Western Alliance Bancorporation by 0.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,604,755 shares of the financial services provider's stock worth $276,954,000 after purchasing an additional 26,995 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in Western Alliance Bancorporation by 1.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,909,003 shares of the financial services provider's stock worth $146,668,000 after buying an additional 25,260 shares in the last quarter. Northern Trust Corp raised its stake in shares of Western Alliance Bancorporation by 0.3% in the 1st quarter. Northern Trust Corp now owns 914,816 shares of the financial services provider's stock valued at $70,285,000 after purchasing an additional 2,762 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in Western Alliance Bancorporation by 23.4% during the first quarter. Voya Investment Management LLC now owns 676,575 shares of the financial services provider's stock worth $51,981,000 after acquiring an additional 128,362 shares during the period. Hedge funds and other institutional investors own 79.15% of the company's stock.

Insider Buying and Selling at Western Alliance Bancorporation

In related news, insider Tim R. Bruckner sold 2,500 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $83.91, for a total value of $209,775.00. Following the completion of the sale, the insider owned 24,759 shares of the company's stock, valued at $2,077,527.69. This trade represents a 9.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.75% of the company's stock.

Western Alliance Bancorporation Price Performance

WAL stock traded down $0.55 during trading on Friday, reaching $90.94. 3,331,870 shares of the company were exchanged, compared to its average volume of 1,136,830. The company has a 50-day moving average of $84.47 and a two-hundred day moving average of $77.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.82. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $98.10. The company has a market capitalization of $10.04 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 0.63 and a beta of 1.39.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.03. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. The company had revenue of $836.21 million during the quarter, compared to analysts' expectations of $838.58 million. During the same period in the prior year, the company posted $1.75 earnings per share. As a group, equities analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Thursday, August 14th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, August 14th. Western Alliance Bancorporation's dividend payout ratio is 19.97%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WAL shares. JPMorgan Chase & Co. increased their price objective on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Barclays raised their price target on shares of Western Alliance Bancorporation from $97.00 to $100.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Citigroup restated a "neutral" rating on shares of Western Alliance Bancorporation in a research report on Tuesday, August 26th. Wells Fargo & Company decreased their target price on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Monday, July 21st. Finally, Piper Sandler boosted their price target 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. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.79.

Western Alliance Bancorporation Company Profile

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.