Fifth Third Bancorp Purchases 24,695 Shares of Western Alliance Bancorporation $WAL

Fifth Third Bancorp increased its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 6,023.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 25,105 shares of the financial services provider's stock after purchasing an additional 24,695 shares during the period. Fifth Third Bancorp's holdings in Western Alliance Bancorporation were worth $1,779,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at approximately $125,482,000. Price T Rowe Associates Inc. MD lifted its holdings in Western Alliance Bancorporation by 9.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,746,867 shares of the financial services provider's stock valued at $735,350,000 after purchasing an additional 777,369 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Western Alliance Bancorporation by 7.9% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,450,408 shares of the financial services provider's stock worth $542,286,000 after purchasing an additional 470,492 shares during the period. AQR Capital Management LLC increased its holdings in shares of Western Alliance Bancorporation by 2,331.6% in the fourth quarter. AQR Capital Management LLC now owns 485,508 shares of the financial services provider's stock valued at $40,817,000 after purchasing an additional 465,541 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of Western Alliance Bancorporation by 7,920.9% in the fourth quarter. M&T Bank Corp now owns 315,624 shares of the financial services provider's stock valued at $26,535,000 after purchasing an additional 311,689 shares during the period. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock opened at $83.28 on Thursday. The firm has a market cap of $9.09 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 0.73 and a beta of 1.34. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.86 and a quick ratio of 0.81. The stock's fifty day moving average price is $80.26 and its two-hundred day moving average price is $81.22. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.36. Western Alliance Bancorporation had a return on equity of 13.52% and a net margin of 17.20%.The company had revenue of $995.70 million for the quarter, compared to analyst estimates of $980.53 million. During the same period in the prior year, the firm posted $2.07 EPS. Western Alliance Bancorporation's quarterly revenue was up 17.7% on a year-over-year basis. As a group, research analysts expect that Western Alliance Bancorporation will post 9.5 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.68 annualized dividend and a yield of 2.0%. Western Alliance Bancorporation's dividend payout ratio is currently 18.92%.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the firm's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $81.00, for a total value of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares of the company's stock, valued at $282,285. This trade represents a 63.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.76% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WAL. Citigroup upped their price target on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, June 25th. UBS Group increased their target price on Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday, April 27th. DA Davidson set a $36.00 price target on Western Alliance Bancorporation in a report on Wednesday. Weiss Ratings upgraded Western Alliance Bancorporation from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, May 26th. Finally, Piper Sandler dropped their target price on Western Alliance Bancorporation from $94.00 to $92.00 and set an "overweight" rating for the company in a report on Monday, April 27th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $94.00.

Key Western Alliance Bancorporation News

Here are the key news stories impacting Western Alliance Bancorporation this week:

• Positive Sentiment: DA Davidson reaffirmed its Buy rating on Western Alliance Bancorporation and raised its price target to $90, implying additional upside from recent trading levels.
• Positive Sentiment: Regional bank earnings have broadly improved sentiment across the group, with reports of strong revenue, loan growth, deposit growth, and solid capital positions helping support Western Alliance shares.
• Positive Sentiment: Western Alliance’s quarterly revenue beat expectations and rose sharply year over year, suggesting its core banking business remains healthy despite market worries.
• Neutral Sentiment: Some coverage highlighted that Western Alliance’s earnings may have missed certain consensus estimates on EPS, which could temper enthusiasm even as investors focus on the broader operational strength.
• Neutral Sentiment: Several transcript and earnings-snapshot articles from the last day largely reinforce the same takeaway: the company is still being closely watched for credit trends and deposit stability after recent bank-sector volatility.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company's core offerings include deposit products, treasury management and a variety of lending services.

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