Focus Partners Advisor Solutions LLC Makes New Investment in Western Alliance Bancorporation $WAL

Key Points

• Focus Partners Advisor Solutions bought 22,835 shares of Western Alliance Bancorporation worth approximately $1.88 million in the second quarter. Institutional investors now own 79.15% of the company.
• Western Alliance reported quarterly earnings of $2.36 per share, matching analyst expectations, while revenue of $995.7 million exceeded estimates and increased 17.7% year over year.
• The company declared a quarterly dividend of $0.42 per share, equivalent to a 2.0% annual yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $95.47, versus a recent share price of $82.31.

Focus Partners Advisor Solutions LLC purchased a new position in Western Alliance Bancorporation (NYSE:WAL - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 22,835 shares of the financial services provider's stock, valued at approximately $1,877,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. M&T Bank Corp boosted its stake in Western Alliance Bancorporation by 7,920.9% during the 4th 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 in the last quarter. Independent Financial Group LLC acquired a new position in shares of Western Alliance Bancorporation during the 1st quarter valued at $924,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Western Alliance Bancorporation by 2,313.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 18,895 shares of the financial services provider's stock worth $1,589,000 after buying an additional 18,112 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Western Alliance Bancorporation by 635.0% in the 1st quarter. Hsbc Holdings PLC now owns 48,366 shares of the financial services provider's stock worth $3,409,000 after buying an additional 41,786 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Western Alliance Bancorporation in the first quarter valued at $3,450,000. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Price Performance

NYSE WAL opened at $82.31 on Friday. The stock's 50-day moving average price is $81.57 and its two-hundred day moving average price is $80.53. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.93. The company has a market cap of $8.98 billion, a PE ratio of 9.27, a PEG ratio of 0.79 and a beta of 1.34. Western Alliance Bancorporation has a 1 year low of $65.82 and a 1 year high of $97.23.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 EPS for the quarter, hitting analysts' consensus estimates of $2.36. The firm had revenue of $995.70 million during the quarter, compared to analyst estimates of $980.53 million. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.40%. The company's revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted $2.07 EPS. On average, analysts predict that Western Alliance Bancorporation will post 9.16 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, August 13th. Western Alliance Bancorporation's payout ratio is currently 18.92%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WAL shares. Keefe, Bruyette & Woods raised their target price on Western Alliance Bancorporation from $93.00 to $94.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. DA Davidson set a $36.00 price target on shares of Western Alliance Bancorporation in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of Western Alliance Bancorporation from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. upped their price target on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a "neutral" rating in a report on Thursday, July 23rd. Finally, UBS Group raised their price objective on shares of Western Alliance Bancorporation from $75.00 to $80.00 and gave the company a "neutral" rating in a research report on Monday, April 27th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of "Moderate Buy" and an average price target of $95.47.

Insider Activity

In related news, CAO Ben Mucha sold 5,946 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $81.00, for a total value of $481,626.00. Following the completion of the sale, the chief accounting officer owned 3,485 shares of the company's stock, valued at approximately $282,285. The trade was a 63.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.76% of the stock is currently owned by corporate insiders.

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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