Amundi Sells 25,776 Shares of Western Alliance Bancorporation $WAL

Amundi cut its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 21.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,836 shares of the financial services provider's stock after selling 25,776 shares during the period. Amundi owned approximately 0.09% of Western Alliance Bancorporation worth $6,719,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at about $125,482,000. Price T Rowe Associates Inc. MD increased its position in shares of Western Alliance Bancorporation by 9.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,746,867 shares of the financial services provider's stock valued at $735,350,000 after purchasing an additional 777,369 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Western Alliance Bancorporation by 7.9% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,450,408 shares of the financial services provider's stock valued at $542,286,000 after purchasing an additional 470,492 shares during the period. AQR Capital Management LLC raised its stake in shares of Western Alliance Bancorporation by 2,331.6% in the fourth quarter. AQR Capital Management LLC now owns 485,508 shares of the financial services provider's stock valued at $40,817,000 after purchasing an additional 465,541 shares in the last quarter. Finally, M&T Bank Corp raised its stake in shares of Western Alliance Bancorporation by 7,920.9% in the fourth quarter. M&T Bank Corp now owns 315,624 shares of the financial services provider's stock valued at $26,535,000 after purchasing an additional 311,689 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Performance

Shares of NYSE:WAL opened at $82.98 on Thursday. The business has a fifty day moving average of $81.26 and a 200-day moving average of $80.82. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.80 and a current ratio of 0.86. Western Alliance Bancorporation has a twelve month low of $65.82 and a twelve month high of $97.23. The firm has a market cap of $9.05 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 0.81 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 EPS for the quarter, hitting analysts' consensus estimates of $2.36. The firm had revenue of $995.70 million for the quarter, compared to analyst estimates of $980.53 million. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.40%. The company's revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.07 EPS. On average, equities research analysts predict that Western Alliance Bancorporation will post 9.16 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be issued a $0.42 dividend. The ex-dividend date is Thursday, August 13th. This represents a $1.68 annualized dividend and a yield of 2.0%. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 18.92%.

Wall Street Analysts Forecast Growth

WAL has been the topic of several recent analyst reports. UBS Group boosted their price target on Western Alliance Bancorporation from $75.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, April 27th. TD Cowen increased their price objective on Western Alliance Bancorporation from $89.00 to $90.00 and gave the stock a "hold" rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods lifted their price objective on Western Alliance Bancorporation from $93.00 to $94.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Weiss Ratings upgraded shares of Western Alliance Bancorporation from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, May 26th. Finally, Truist Financial upped their target price on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Western Alliance Bancorporation has a consensus rating of "Moderate Buy" and an average target price of $94.82.

Insider Buying and Selling

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the business's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $81.00, for a total transaction of $481,626.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.76% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding WAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Alliance Bancorporation (NYSE:WAL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source