Charles Schwab Investment Management Inc. reduced its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 about 0.87% of Western Alliance Bancorporation worth $74,082,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. MidWestOne Financial Group Inc. raised its position in Western Alliance Bancorporation by 0.6% in the fourth quarter. MidWestOne Financial Group Inc. now owns 26,646 shares of the financial services provider's stock worth $2,226,000 after acquiring an additional 160 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Western Alliance Bancorporation by 5.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,087 shares of the financial services provider's stock valued at $258,000 after buying an additional 166 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Western Alliance Bancorporation by 2.9% in the first quarter. D.A. Davidson & CO. now owns 6,056 shares of the financial services provider's stock valued at $465,000 after buying an additional 169 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Western Alliance Bancorporation by 3.4% in the first quarter. Crossmark Global Holdings Inc. now owns 5,993 shares of the financial services provider's stock valued at $460,000 after buying an additional 197 shares in the last quarter. Finally, RiverPark Advisors LLC increased its position in shares of Western Alliance Bancorporation by 14.1% in the fourth quarter. RiverPark Advisors LLC now owns 2,041 shares of the financial services provider's stock valued at $171,000 after buying an additional 253 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on WAL. DA Davidson lifted their price objective on Western Alliance Bancorporation from $90.00 to $98.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. lifted their price objective on Western Alliance Bancorporation from $80.00 to $87.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Truist Financial reduced their price target on 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. Royal Bank Of Canada reduced their price target on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Barclays boosted their price target on Western Alliance Bancorporation from $97.00 to $100.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and an average target price of $96.62.
Get Our Latest Analysis on WAL
Western Alliance Bancorporation Stock Performance
Shares of WAL stock traded down $0.22 during trading hours on Monday, reaching $82.34. 213,264 shares of the company's stock were exchanged, compared to its average volume of 1,108,004. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10. The stock has a market capitalization of $9.09 billion, a P/E ratio of 10.82, a P/E/G ratio of 0.57 and a beta of 1.33. The business has a fifty day moving average price of $79.40 and a 200-day moving average price of $77.32. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.95.
Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 12.62% and a net margin of 16.39%. During the same period in the previous year, the business posted $1.75 earnings per share. Analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.
Western Alliance Bancorporation Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, August 14th will be issued a $0.38 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.52 annualized dividend and a yield of 1.8%. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 19.97%.
Insider Transactions at Western Alliance Bancorporation
In related news, insider Tim R. Bruckner sold 2,500 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $83.91, for a total value of $209,775.00. Following the transaction, the insider owned 24,759 shares in the company, valued at $2,077,527.69. This trade represents a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.75% of the stock is currently owned by corporate insiders.
Western Alliance Bancorporation Company Profile
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Free Report)
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.
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