Western Alliance Bancorporation $WAL Shares Bought by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in Western Alliance Bancorporation by 215.8%, acquiring an additional 12,979 shares, bringing their total holdings to 18,993 shares valued at approximately $1.46 million.
• Several other hedge funds also boosted their positions in Western Alliance, with notable increases from Price T Rowe Associates (2.7%) and Janus Henderson Group (23.5%) during the fourth quarter.
• Western Alliance Bancorporation announced a $0.38 quarterly dividend to be paid on August 29th, reflecting an annualized yield of 1.7%.

Deutsche Bank AG grew its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 215.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,993 shares of the financial services provider's stock after buying an additional 12,979 shares during the quarter. Deutsche Bank AG's holdings in Western Alliance Bancorporation were worth $1,459,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. HWG Holdings LP bought a new position in Western Alliance Bancorporation in the first quarter worth approximately $25,000. Tsfg LLC bought a new position in Western Alliance Bancorporation in the first quarter worth approximately $33,000. UMB Bank n.a. grew its stake in Western Alliance Bancorporation by 91.5% in the first 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 in the last quarter. Larson Financial Group LLC grew its stake in Western Alliance Bancorporation by 144.5% in the first 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 in the last quarter. Finally, GAMMA Investing LLC grew its stake 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 worth $168,000 after purchasing an additional 758 shares in the last quarter. Institutional investors own 79.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on WAL shares. Barclays increased their price objective on Western Alliance Bancorporation from $97.00 to $100.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company dropped their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Monday, July 21st. DA Davidson increased their target price on Western Alliance Bancorporation from $90.00 to $98.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Piper Sandler increased their target price on Western Alliance Bancorporation from $94.00 to $105.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Finally, Jefferies Financial Group began coverage on Western Alliance Bancorporation in a report on Wednesday, May 21st. They set a "buy" rating and a $95.00 price objective for the company. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $96.62.

Western Alliance Bancorporation Stock Down 0.2%

Shares of WAL traded down $0.1470 during midday trading on Monday, hitting $86.9830. 879,031 shares of the company's stock traded hands, compared to its average volume of 931,845. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $98.10. The firm's fifty day moving average is $80.64 and its 200-day moving average is $77.14. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $9.60 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 0.60 and a beta of 1.33.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.07 EPS for the quarter, beating the consensus estimate of $2.04 by $0.03. The firm had revenue of $836.21 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted $1.75 EPS. As a group, sell-side analysts anticipate 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. Shareholders of record on Thursday, August 14th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, August 14th. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 19.97%.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 2,500 shares of the stock in a transaction dated Thursday, July 24th. The stock was 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 of the company's stock, valued at approximately $2,077,527.69. This trade represents a 9.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.75% 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.