Point72 Europe London LLP Has $1.48 Million Holdings in Western Alliance Bancorporation $WAL

Key Points

• Point72 Europe London LLP has significantly decreased its holdings in Western Alliance Bancorporation by selling 71,351 shares, representing a reduction of 78.7% in the first quarter.
• Analysts have mixed views on the stock, with Wells Fargo lowering its price target to $85, while Piper Sandler raised theirs to $105, indicating confidence in future growth.
• Western Alliance Bancorporation recently declared a quarterly dividend of $0.38, which reflects an annualized yield of 1.7% and a dividend payout ratio of 19.97%.

Point72 Europe London LLP trimmed its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 78.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,292 shares of the financial services provider's stock after selling 71,351 shares during the period. Point72 Europe London LLP's holdings in Western Alliance Bancorporation were worth $1,482,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Oliver Luxxe Assets LLC lifted its position in shares of Western Alliance Bancorporation by 6.9% during the first quarter. Oliver Luxxe Assets LLC now owns 51,086 shares of the financial services provider's stock worth $3,925,000 after purchasing an additional 3,277 shares in the last quarter. AlphaQuest LLC lifted its position in shares of Western Alliance Bancorporation by 34.7% during the first quarter. AlphaQuest LLC now owns 2,238 shares of the financial services provider's stock worth $172,000 after purchasing an additional 577 shares in the last quarter. Kestra Advisory Services LLC lifted its position in shares of Western Alliance Bancorporation by 2.6% during the first quarter. Kestra Advisory Services LLC now owns 14,070 shares of the financial services provider's stock worth $1,081,000 after purchasing an additional 360 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Western Alliance Bancorporation by 33.8% during the first quarter. Ameriprise Financial Inc. now owns 475,935 shares of the financial services provider's stock worth $36,562,000 after purchasing an additional 120,105 shares in the last quarter. Finally, CW Advisors LLC lifted its position in shares of Western Alliance Bancorporation by 27.3% during the first quarter. CW Advisors LLC now owns 38,734 shares of the financial services provider's stock worth $2,976,000 after purchasing an additional 8,297 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WAL shares. Wells Fargo & Company reduced their target price on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Monday, July 21st. Jefferies Financial Group began coverage on shares of 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. Piper Sandler boosted their price target on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Citigroup reissued a "neutral" rating on shares of Western Alliance Bancorporation in a research note on Tuesday, August 26th. Finally, Wall Street Zen raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.79.

Insider Buying and Selling

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

Western Alliance Bancorporation Trading Down 0.7%

NYSE:WAL traded down $0.67 during trading hours on Friday, hitting $90.68. The stock had a trading volume of 1,210,840 shares, compared to its average volume of 885,811. Western Alliance Bancorporation has a one year low of $57.05 and a one year high of $98.10. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 0.86. The company has a market cap of $10.01 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 0.63 and a beta of 1.39. The business's 50 day moving average is $83.35 and its 200-day moving average is $77.36.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $2.07 EPS for the quarter, beating the consensus estimate of $2.04 by $0.03. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. The firm had revenue of $836.21 million during the quarter, compared to the consensus estimate of $838.58 million. During the same quarter in the prior year, the firm earned $1.75 earnings per share. Sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, August 14th. Western Alliance Bancorporation's dividend payout ratio 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.