6,117 Shares in Western Alliance Bancorporation (NYSE:WAL) Acquired by Readystate Asset Management LP

Readystate Asset Management LP purchased a new stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,117 shares of the financial services provider's stock, valued at approximately $470,000.

Several other large investors have also recently bought and sold shares of WAL. HWG Holdings LP purchased a new stake in shares of Western Alliance Bancorporation during the 1st quarter valued at $25,000. Tsfg LLC purchased a new stake in shares of Western Alliance Bancorporation during the 1st quarter valued at $33,000. UMB Bank n.a. raised its position 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 buying an additional 482 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Western Alliance Bancorporation by 144.5% during the 1st quarter. Larson Financial Group LLC now owns 1,714 shares of the financial services provider's stock valued at $132,000 after buying an additional 1,013 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Western Alliance Bancorporation by 53.3% during the 1st quarter. GAMMA Investing LLC now owns 2,181 shares of the financial services provider's stock valued at $168,000 after buying an additional 758 shares in the last quarter. 79.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Western Alliance Bancorporation in a research report on Wednesday, May 21st. They issued a "buy" rating and a $95.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Stephens reiterated an "overweight" rating and issued a $92.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Truist Financial decreased their target price on shares of Western Alliance Bancorporation from $96.00 to $93.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Finally, Royal Bank Of Canada decreased their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.62.

Western Alliance Bancorporation Stock Down 1.3%

NYSE WAL traded down $1.12 during trading on Friday, reaching $82.10. 1,051,743 shares of the company's stock traded hands, compared to its average volume of 1,166,552. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.85 and a quick ratio of 0.81. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 0.57 and a beta of 1.29. The company's 50 day simple moving average is $77.40 and its two-hundred day simple moving average is $78.23. Western Alliance Bancorporation has a 12-month low of $57.05 and a 12-month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.07 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $836.21 million for the quarter, compared to analysts' expectations of $838.58 million. During the same period last year, the business earned $1.75 EPS. As a group, sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 19.97%.

Insider Buying and Selling

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 value of $209,775.00. Following the completion of the sale, the insider directly owned 24,759 shares in the company, valued at $2,077,527.69. This trade represents a 9.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.68% of the stock is owned by company insiders.

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.