Inspire Advisors LLC Invests $697,000 in Western Alliance Bancorporation (NYSE:WAL)

Key Points

• Inspire Advisors LLC has acquired a new stake in Western Alliance Bancorporation, purchasing 9,071 shares valued at approximately $697,000.
• Notable increases in holdings by other investors have been reported, with Nicholas Investment Partners LP increasing their stake by 12.7% during the fourth quarter.
• The company recently announced a $0.38 dividend per share, reflecting a 1.85% yield based on its current share price.

Inspire Advisors LLC bought a new stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 9,071 shares of the financial services provider's stock, valued at approximately $697,000.

Several other large investors also recently added to or reduced their stakes in WAL. Norges Bank acquired a new position in Western Alliance Bancorporation during the fourth quarter worth $109,298,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Western Alliance Bancorporation by 55.7% during 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 buying an additional 648,983 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Western Alliance Bancorporation by 23.5% during 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 in the last quarter. Bank of Montreal Can raised its holdings in shares of Western Alliance Bancorporation by 973.1% in the 4th quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider's stock worth $35,239,000 after buying an additional 382,513 shares in the last quarter. Finally, Global Frontier Investments LLC acquired a new position in shares of Western Alliance Bancorporation in the 4th quarter worth approximately $23,809,000. 79.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 2,500 shares of Western Alliance Bancorporation stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $83.91, for a total transaction of $209,775.00. Following the transaction, the insider owned 24,759 shares of the company's stock, valued at $2,077,527.69. This trade represents a 9.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.68% of the company's stock.

Western Alliance Bancorporation Trading Down 1.5%

NYSE WAL traded down $1.20 on Thursday, hitting $77.92. The company's stock had a trading volume of 474,188 shares, compared to its average volume of 1,124,369. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $98.10. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.95. The company's 50-day moving average is $77.71 and its 200 day moving average is $78.25. The firm has a market cap of $8.60 billion, a PE ratio of 10.24, a PEG ratio of 0.56 and a beta of 1.29.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.07 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.03. The business had revenue of $836.21 million during the quarter, compared to analysts' expectations of $838.58 million. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. During the same period last year, the company posted $1.75 earnings per share. As a group, analysts predict 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 declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 1.95%. Western Alliance Bancorporation's payout ratio is 19.97%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Jefferies Financial Group assumed coverage on shares of Western Alliance Bancorporation in a report on Wednesday, May 21st. They set a "buy" rating and a $95.00 price objective on the stock. DA Davidson lifted their price target on shares of Western Alliance Bancorporation from $90.00 to $98.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Wells Fargo & Company lowered their price objective on shares of 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. Finally, Piper Sandler lifted their target price on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation has an average rating of "Moderate Buy" and a consensus target price 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.