Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC holds approximately $25.43 million in Western Alliance Bancorporation, despite reducing its stake by 2.2% in the first quarter.
• Other institutional investors have also been active, with JPMorgan Chase & Co. increasing its stake by 33.3%, resulting in significant holdings across multiple funds.
• Western Alliance Bancorporation's recent earnings report exceeded expectations, reporting $2.07 EPS, surpassing consensus estimates, with a net margin of 16.39%.

Natixis Advisors LLC trimmed its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 2.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,044 shares of the financial services provider's stock after selling 7,351 shares during the period. Natixis Advisors LLC owned 0.30% of Western Alliance Bancorporation worth $25,433,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in WAL. HWG Holdings LP bought a new stake in shares of Western Alliance Bancorporation during the first quarter valued at approximately $25,000. Tsfg LLC purchased a new stake in Western Alliance Bancorporation in the 1st quarter worth $33,000. UMB Bank n.a. boosted its holdings in shares of Western Alliance Bancorporation by 91.5% during the 1st quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 482 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Western Alliance Bancorporation by 144.5% during the first quarter. Larson Financial Group LLC now owns 1,714 shares of the financial services provider's stock valued at $132,000 after purchasing an additional 1,013 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of 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 during the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Jefferies Financial Group assumed coverage on Western Alliance Bancorporation in a research note on Wednesday, May 21st. They set a "buy" rating and a $95.00 price target for the company. Truist Financial dropped their price target on Western Alliance Bancorporation from $96.00 to $93.00 and set a "buy" rating for the company in a research note on Monday, July 21st. Citigroup increased their price target on Western Alliance Bancorporation from $91.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Wall Street Zen raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. increased their price target on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.62.

Insider Transactions at Western Alliance Bancorporation

In related 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 directly owned 24,759 shares of the company's stock, valued at $2,077,527.69. This trade represents a 9.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.75% of the stock is currently owned by insiders.

Western Alliance Bancorporation Stock Up 1.5%

Shares of WAL traded up $1.14 during midday trading on Monday, reaching $77.47. 668,913 shares of the stock were exchanged, compared to its average volume of 1,116,534. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The company's 50 day moving average is $77.91 and its two-hundred day moving average is $78.06. The company has a market capitalization of $8.55 billion, a P/E ratio of 10.18, a PEG ratio of 0.53 and a beta of 1.33. Western Alliance Bancorporation has a 52 week low of $57.05 and a 52 week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.07 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.03. The company had revenue of $836.21 million during the quarter, compared to analyst estimates 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 in the prior year, the firm earned $1.75 earnings per share. On average, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, August 14th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, August 14th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 19.97%.

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.