CW Advisors LLC Grows Position in Western Alliance Bancorporation $WAL

Key Points

• CW Advisors LLC increased its stake in Western Alliance Bancorporation by 27.3% during the first quarter, resulting in ownership of 38,734 shares valued at $2,976,000.
• Western Alliance Bancorporation reported $2.07 earnings per share for the quarter, exceeding the analysts' estimate of $2.04.
• The company recently announced a quarterly dividend of $0.38 per share, representing an annualized dividend yield of 1.7%.

CW Advisors LLC raised its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 27.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,734 shares of the financial services provider's stock after purchasing an additional 8,297 shares during the period. CW Advisors LLC's holdings in Western Alliance Bancorporation were worth $2,976,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in WAL. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Western Alliance Bancorporation by 55.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock valued at $151,604,000 after purchasing an additional 648,983 shares during the last quarter. Nuveen LLC purchased a new position in Western Alliance Bancorporation in the first quarter valued at approximately $45,486,000. Janus Henderson Group PLC increased its stake in Western Alliance Bancorporation by 23.5% in the fourth quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider's stock valued at $195,616,000 after purchasing an additional 445,176 shares during the last quarter. Invesco Ltd. increased its stake in Western Alliance Bancorporation by 5.9% in the first quarter. Invesco Ltd. now owns 6,076,021 shares of the financial services provider's stock valued at $466,821,000 after purchasing an additional 339,758 shares during the last quarter. Finally, Global Frontier Investments LLC purchased a new position in Western Alliance Bancorporation in the fourth quarter valued at approximately $23,809,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL opened at $87.1870 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.82. The stock has a fifty day moving average price of $80.35 and a 200 day moving average price of $77.25. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $98.10. The company has a market cap of $9.62 billion, a PE ratio of 11.46, a P/E/G ratio of 0.60 and a beta of 1.33.

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 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 firm had revenue of $836.21 million during the quarter, compared to the consensus estimate of $838.58 million. During the same period last year, the company earned $1.75 earnings per share. Sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 EPS 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 issued 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 dividend yield of 1.7%. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 19.97%.

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 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 sale, the insider directly owned 24,759 shares of the company's stock, valued at $2,077,527.69. This trade represents a 9.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on WAL. Truist Financial dropped 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 note on Monday, July 21st. JPMorgan Chase & Co. increased their price objective on Western Alliance Bancorporation from $80.00 to $87.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Wall Street Zen raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Piper Sandler increased their price objective on Western Alliance Bancorporation from $94.00 to $105.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Finally, Wells Fargo & Company decreased their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating for the company in a report on Monday, July 21st. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Western Alliance Bancorporation presently has an average rating of "Moderate Buy" and a consensus price target 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.

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