Charles Schwab Investment Management Inc. Reduces Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Charles Schwab Investment Management Inc. decreased its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 964,235 shares of the financial services provider's stock after selling 5,073 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.87% of Western Alliance Bancorporation worth $74,082,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HWG Holdings LP purchased a new stake in Western Alliance Bancorporation in the 1st quarter worth $25,000. Tsfg LLC acquired a new stake in Western Alliance Bancorporation during the 1st quarter worth $33,000. UMB Bank n.a. boosted its stake in Western Alliance Bancorporation by 91.5% during the 1st quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock worth $78,000 after purchasing an additional 482 shares during the last quarter. Larson Financial Group LLC boosted its stake in Western Alliance Bancorporation by 144.5% during the 1st quarter. Larson Financial Group LLC now owns 1,714 shares of the financial services provider's stock worth $132,000 after purchasing an additional 1,013 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Western Alliance Bancorporation by 53.3% during the 1st quarter. GAMMA Investing LLC now owns 2,181 shares of the financial services provider's stock worth $168,000 after purchasing an additional 758 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Down 1.6%

Shares of WAL traded down $1.35 during mid-day trading on Friday, hitting $82.59. 1,102,476 shares of the company's stock were exchanged, compared to its average volume of 1,135,361. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 0.58 and a beta of 1.33. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 0.86. The stock's 50-day moving average is $79.40 and its 200-day moving average is $77.40.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued 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. The business had revenue of $836.21 million for the quarter, compared to analysts' expectations of $838.58 million. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. During the same quarter in the prior year, the company earned $1.75 earnings per share. On average, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, August 14th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, August 14th. Western Alliance Bancorporation's dividend payout ratio is presently 19.97%.

Insider Buying and Selling at Western Alliance Bancorporation

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WAL. 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. JPMorgan Chase & Co. boosted their price target on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Wells Fargo & Company lowered their price target 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. Barclays boosted their price target on shares of Western Alliance Bancorporation from $97.00 to $100.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Truist Financial lowered their price target on shares of Western Alliance Bancorporation from $96.00 to $93.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Western Alliance Bancorporation has an average rating of "Moderate Buy" and a consensus target price of $96.62.

About Western Alliance Bancorporation

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.