Concurrent Investment Advisors LLC Buys Shares of 12,471 Western Alliance Bancorporation $WAL

Key Points

• Concurrent Investment Advisors LLC has purchased 12,471 shares of Western Alliance Bancorporation valued at approximately $972,000, indicating a significant investment in the financial services provider.
• Western Alliance Bancorporation recently announced a quarterly dividend of $0.38 per share, representing a 2.2% dividend yield, with a total annualized dividend of $1.52.
• Thirteen analysts currently rate Western Alliance Bancorporation as a Buy, while one has issued a Sell rating, reflecting strong confidence in the company's future performance.

Concurrent Investment Advisors LLC purchased a new position in Western Alliance Bancorporation (NYSE:WAL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,471 shares of the financial services provider's stock, valued at approximately $972,000.

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in Western Alliance Bancorporation by 53.3% in the first quarter. GAMMA Investing LLC now owns 2,181 shares of the financial services provider's stock valued at $168,000 after buying an additional 758 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Western Alliance Bancorporation by 5.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,262 shares of the financial services provider's stock worth $251,000 after acquiring an additional 175 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Western Alliance Bancorporation by 3.4% in the first quarter. Exchange Traded Concepts LLC now owns 15,567 shares of the financial services provider's stock valued at $1,196,000 after acquiring an additional 518 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Western Alliance Bancorporation by 22.6% during the first quarter. Janney Montgomery Scott LLC now owns 4,380 shares of the financial services provider's stock valued at $337,000 after acquiring an additional 808 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Western Alliance Bancorporation by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 12,780 shares of the financial services provider's stock worth $981,000 after purchasing an additional 340 shares during the period. 79.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Western Alliance Bancorporation

In related news, insider Tim R. Bruckner sold 2,500 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $83.91, for a total transaction of $209,775.00. Following the completion of the transaction, the insider 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 can be accessed through this link. Company insiders own 2.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WAL. Barclays restated an "overweight" rating on shares of Western Alliance Bancorporation in a research note on Wednesday, October 8th. Royal Bank Of Canada boosted their target price on shares of Western Alliance Bancorporation from $93.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, October 10th. National Bankshares set a $118.00 price target on shares of Western Alliance Bancorporation in a research report on Wednesday, September 24th. Industrial Alliance Securities set a $112.00 price objective on Western Alliance Bancorporation in a report on Wednesday, October 8th. Finally, TD Cowen began coverage on Western Alliance Bancorporation in a research note on Thursday, September 25th. They issued a "buy" rating and a $118.00 price objective for the company. Thirteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.14.

Western Alliance Bancorporation Trading Down 11.0%

NYSE:WAL opened at $70.18 on Friday. Western Alliance Bancorporation has a 52 week low of $57.05 and a 52 week high of $98.10. The firm has a 50-day moving average price of $85.77 and a two-hundred day moving average price of $78.44. 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 firm has a market cap of $7.75 billion, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 0.56 and a beta of 1.35.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its earnings results on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter. The company had revenue of $718.00 million during the quarter. Western Alliance Bancorporation had a return on equity of 12.62% and a net margin of 16.39%. On average, equities analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced 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 2.2%. The ex-dividend date was Thursday, August 14th. Western Alliance Bancorporation's payout ratio is presently 19.97%.

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.

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