New Age Alpha Advisors LLC Decreases Position in Western Alliance Bancorporation (NYSE:WAL)

Key Points

• New Age Alpha Advisors LLC has reduced its stake in Western Alliance Bancorporation by 66.1%, now owning 22,120 shares worth approximately $1.7 million after selling 43,095 shares in the first quarter.
• Analyst reports indicate a generally positive outlook for Western Alliance Bancorporation, with multiple firms raising target prices and ratings, suggesting a consensus of a Moderate Buy with an average target price of $96.62.
• The company recently declared a quarterly dividend of $0.38 per share, which will yield 1.9%, and has a dividend payout ratio of 19.97%.

New Age Alpha Advisors LLC lowered its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 66.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,120 shares of the financial services provider's stock after selling 43,095 shares during the quarter. New Age Alpha Advisors LLC's holdings in Western Alliance Bancorporation were worth $1,699,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HWG Holdings LP bought a new stake in Western Alliance Bancorporation in the first quarter worth $25,000. Tsfg LLC bought a new stake in Western Alliance Bancorporation in the first quarter worth $33,000. UMB Bank n.a. increased its position in Western Alliance Bancorporation by 91.5% in the first quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock worth $78,000 after purchasing an additional 482 shares during the last quarter. Larson Financial Group LLC increased its position in Western Alliance Bancorporation by 144.5% in the first quarter. Larson Financial Group LLC now owns 1,714 shares of the financial services provider's stock worth $132,000 after purchasing an additional 1,013 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in 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. Institutional investors own 79.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. DA Davidson lifted their price objective on shares of Western Alliance Bancorporation from $90.00 to $98.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Royal Bank Of Canada lowered their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company lowered their target price on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating for the company in a research note on Monday, July 21st. Stephens reissued an "overweight" rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Finally, Barclays boosted their target price on shares of Western Alliance Bancorporation from $97.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Western Alliance Bancorporation presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.62.

Insider Buying and Selling at Western Alliance Bancorporation

In other news, insider Tim R. Bruckner sold 2,500 shares of Western Alliance Bancorporation stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $83.91, for a total value of $209,775.00. Following the completion of the transaction, the insider owned 24,759 shares in the company, valued at approximately $2,077,527.69. This trade represents a 9.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.75% of the company's stock.

Western Alliance Bancorporation Stock Up 4.9%

Shares of WAL traded up $3.82 during mid-day trading on Tuesday, hitting $81.27. 317,523 shares of the company traded hands, compared to its average volume of 1,111,732. 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 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $8.97 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 0.55 and a beta of 1.33. The business has a 50 day moving average of $78.56 and a 200 day moving average of $77.51.

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 EPS for the quarter, topping the consensus estimate of $2.04 by $0.03. Western Alliance Bancorporation had a return on equity of 12.62% and a net margin of 16.39%. The business had revenue of $836.21 million for the quarter, compared to analyst estimates of $838.58 million. During the same quarter in the prior year, the firm posted $1.75 EPS. Equities research analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.9%. Western Alliance Bancorporation's dividend payout ratio is currently 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.