Arkadios Wealth Advisors Invests $576,000 in Western Alliance Bancorporation (NYSE:WAL)

Key Points

• Arkadios Wealth Advisors recently acquired 7,500 shares of Western Alliance Bancorporation valued at approximately $576,000, highlighting growing institutional interest in the company.
• Wall Street analysts have mixed views on the stock, with thirteen giving it a "buy" rating and a consensus price target of $96.62.
• Western Alliance Bancorporation announced a quarterly dividend of $0.38 per share, reflecting a dividend yield of 1.9%, with the dividend payment set for August 29th.

Arkadios Wealth Advisors acquired a new stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,500 shares of the financial services provider's stock, valued at approximately $576,000.

A number of other institutional investors have also made changes to their positions in the stock. XTX Topco Ltd bought a new position in shares of Western Alliance Bancorporation in the 1st quarter valued at approximately $710,000. Federated Hermes Inc. increased its position in Western Alliance Bancorporation by 9.8% in the 1st quarter. Federated Hermes Inc. now owns 12,040 shares of the financial services provider's stock worth $925,000 after buying an additional 1,075 shares during the period. TCW Group Inc. increased its position in Western Alliance Bancorporation by 18.8% in the 1st quarter. TCW Group Inc. now owns 48,819 shares of the financial services provider's stock worth $3,751,000 after buying an additional 7,720 shares during the period. Inspire Advisors LLC bought a new position in Western Alliance Bancorporation in the 1st quarter worth approximately $697,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Western Alliance Bancorporation by 2.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,160 shares of the financial services provider's stock worth $2,087,000 after buying an additional 611 shares during the period. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Trading Up 1.3%

NYSE WAL traded up $1.01 on Friday, reaching $79.11. The company had a trading volume of 330,149 shares, compared to its average volume of 1,116,252. The stock's 50 day moving average is $78.22 and its 200-day moving average is $77.97. The stock has a market cap of $8.73 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 0.54 and a beta of 1.33. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. Western Alliance Bancorporation has a 52 week low of $57.05 and a 52 week high of $98.10.

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

Western Alliance Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, August 14th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.52 annualized dividend and a yield of 1.9%. Western Alliance Bancorporation's dividend payout ratio is 19.97%.

Wall Street Analyst Weigh In

WAL has been the topic of several recent analyst reports. Stephens reaffirmed an "overweight" rating and issued a $92.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their price objective on Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Piper Sandler lifted their price objective on Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Barclays lifted their price objective on Western Alliance Bancorporation from $97.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Citigroup lifted their price objective on Western Alliance Bancorporation from $91.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and an average target price of $96.62.

Insider Buying and Selling

In related news, insider Tim R. Bruckner sold 2,500 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $83.91, for a total transaction of $209,775.00. Following the completion of the transaction, the insider directly owned 24,759 shares of the company's stock, valued at approximately $2,077,527.69. This represents a 9.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.68% of the company's stock.

Western Alliance Bancorporation 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.