Janus Henderson Group PLC Sells 22,742 Shares of Western Alliance Bancorporation $WAL

Key Points

• Janus Henderson reduced its Western Alliance Bancorporation stake by 1.6%, selling 22,742 shares and retaining 1.37 million shares valued at approximately $97.2 million. Institutional investors collectively own 79.15% of WAL.
• Western Alliance reported quarterly EPS of $2.36, in line with estimates, while revenue of $995.7 million exceeded forecasts and increased 17.7% year over year.
• Analysts remain broadly positive, with an average “Moderate Buy” rating and a $94.82 price target versus the stock’s $80.53 opening price. The company also declared a quarterly dividend of $0.42 per share, yielding about 2.1% annually.

Janus Henderson Group PLC trimmed its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,372,535 shares of the financial services provider's stock after selling 22,742 shares during the period. Janus Henderson Group PLC owned about 1.26% of Western Alliance Bancorporation worth $97,242,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WAL. Norges Bank acquired a new position in Western Alliance Bancorporation in the 4th quarter worth $125,482,000. Price T Rowe Associates Inc. MD raised its stake in shares of Western Alliance Bancorporation by 9.8% in 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 period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Western Alliance Bancorporation by 7.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,450,408 shares of the financial services provider's stock valued at $542,286,000 after purchasing an additional 470,492 shares in the last quarter. AQR Capital Management LLC lifted 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 in the last quarter. Finally, M&T Bank Corp boosted its position in shares of Western Alliance Bancorporation by 7,920.9% during the fourth quarter. M&T Bank Corp now owns 315,624 shares of the financial services provider's stock worth $26,535,000 after buying an additional 311,689 shares during the period. 79.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Ben Mucha sold 5,946 shares of the business's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $81.00, for a total transaction of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares in the company, valued at approximately $282,285. The trade was a 63.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WAL. Keefe, Bruyette & Woods increased their price objective on Western Alliance Bancorporation from $93.00 to $94.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Barclays cut their target price on Western Alliance Bancorporation from $90.00 to $88.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. TD Cowen lifted their price objective on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a "hold" rating in a report on Monday. Truist Financial boosted their price objective on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Finally, Stifel Nicolaus set a $95.00 target price on shares of Western Alliance Bancorporation in a report on Thursday, July 23rd. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and an average price target of $94.82.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL opened at $80.53 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.80 and a current ratio of 0.85. The stock has a 50 day moving average price of $81.00 and a 200 day moving average price of $80.97. The stock has a market capitalization of $8.79 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 0.78 and a beta of 1.34. Western Alliance Bancorporation has a 52 week low of $65.82 and a 52 week high of $97.23.

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

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 18.92%.

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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