Quantbot Technologies LP Makes New $5.16 Million Investment in Western Alliance Bancorporation $WAL

Key Points

• Quantbot Technologies LP initiated a $5.16 million position in Western Alliance Bancorporation, purchasing 62,783 shares and owning approximately 0.06% of the company. Institutional investors collectively hold 79.15% of WAL’s outstanding shares.
• Western Alliance reported solid quarterly results, with revenue rising 17.7% year over year to $995.7 million and EPS of $2.36, in line with analyst expectations. Analysts maintain a “Moderate Buy” consensus rating and an average price target of $95.47, compared with the stock’s reported price of $79.78.
• The company declared a quarterly dividend of $0.42 per share, equivalent to $1.68 annually and a 2.1% yield. Separately, the chief accounting officer sold 5,946 shares, while insiders own 2.76% of the stock.

Quantbot Technologies LP purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 62,783 shares of the financial services provider's stock, valued at approximately $5,161,000. Quantbot Technologies LP owned about 0.06% of Western Alliance Bancorporation at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in WAL. Independent Financial Group LLC purchased a new position in Western Alliance Bancorporation in the first quarter valued at about $924,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Western Alliance Bancorporation during the second quarter worth $1,877,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Western Alliance Bancorporation by 2,313.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 18,895 shares of the financial services provider's stock valued at $1,589,000 after purchasing an additional 18,112 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Western Alliance Bancorporation by 635.0% during the first quarter. Hsbc Holdings PLC now owns 48,366 shares of the financial services provider's stock worth $3,409,000 after purchasing an additional 41,786 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Western Alliance Bancorporation in the second quarter worth $2,051,000. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Price Performance

WAL opened at $79.78 on Friday. The stock's 50-day moving average price is $81.41 and its 200 day moving average price is $80.22. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.93. Western Alliance Bancorporation has a 12-month low of $65.82 and a 12-month high of $97.23. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 0.77 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $980.53 million. During the same period last year, the business posted $2.07 earnings per share. Western Alliance Bancorporation's revenue was up 17.7% compared to the same quarter last year. As a group, sell-side analysts expect that Western Alliance Bancorporation will post 9.16 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

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

Insider Activity at Western Alliance Bancorporation

In related news, CAO Ben Mucha sold 5,946 shares of Western Alliance Bancorporation 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 sale, the chief accounting officer directly owned 3,485 shares in the company, valued at $282,285. This trade represents a 63.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.76% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WAL shares. UBS Group upped their price objective on shares of Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. JPMorgan Chase & Co. increased their target price on Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a "neutral" rating in a report on Thursday, July 23rd. Stephens set a $95.00 price target on shares of Western Alliance Bancorporation and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Mizuho set a $96.00 price objective on Western Alliance Bancorporation in a research note on Thursday, July 23rd. Finally, Piper Sandler raised their price target on shares of Western Alliance Bancorporation from $92.00 to $97.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $95.47.

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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