S&G Foundation Buys Shares of 375,638 Western Alliance Bancorporation $WAL

Key Points

• S&G Foundation purchased 375,638 shares of Western Alliance Bancorporation during the second quarter, valued at approximately $30.9 million. The position represents about 1.4% of the foundation’s portfolio and 0.34% of WAL’s outstanding shares.
• Western Alliance reported quarterly earnings of $2.36 per share, matching estimates, while revenue of $995.7 million exceeded expectations and rose 17.7% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $95.47.
• The company declared a quarterly dividend of $0.42 per share, equivalent to $1.68 annually and a 2.1% yield. WAL shares opened at $79.78, near their 50-day and 200-day moving averages.

S&G Foundation purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 375,638 shares of the financial services provider's stock, valued at approximately $30,877,000. Western Alliance Bancorporation comprises about 1.4% of S&G Foundation's portfolio, making the stock its 10th biggest holding. S&G Foundation owned about 0.34% of Western Alliance Bancorporation as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its position in Western Alliance Bancorporation by 1.9% during the fourth quarter. Quadrant Capital Group LLC now owns 6,008 shares of the financial services provider's stock valued at $505,000 after purchasing an additional 113 shares during the period. Fifth Third Wealth Advisors LLC grew its position in Western Alliance Bancorporation by 4.2% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,342 shares of the financial services provider's stock worth $237,000 after purchasing an additional 134 shares during the period. Truist Financial Corp grew its position in Western Alliance Bancorporation by 5.2% in the 4th quarter. Truist Financial Corp now owns 3,102 shares of the financial services provider's stock worth $261,000 after purchasing an additional 152 shares during the period. Allworth Financial LP raised its stake in Western Alliance Bancorporation by 39.3% during the 4th quarter. Allworth Financial LP now owns 557 shares of the financial services provider's stock valued at $47,000 after buying an additional 157 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its stake in Western Alliance Bancorporation by 2.4% during the 4th quarter. Arkadios Wealth Advisors now owns 8,134 shares of the financial services provider's stock valued at $684,000 after buying an additional 187 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

Insider Activity at Western Alliance Bancorporation

In other news, CAO Ben Mucha sold 5,946 shares of Western Alliance Bancorporation stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $81.00, for a total transaction of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares of the company's stock, valued at $282,285. The trade was a 63.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.76% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WAL. Citigroup lifted their price objective on Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Weiss Ratings raised Western Alliance Bancorporation from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, May 26th. TD Cowen boosted their price target on Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a "hold" rating in a research note on Monday, July 27th. DA Davidson set a $36.00 price target on Western Alliance Bancorporation in a research note on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a "neutral" rating in a research report on Thursday, July 23rd. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $95.47.

Western Alliance Bancorporation Trading Up 0.8%

Shares of WAL stock opened at $79.78 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.86 and a quick ratio of 0.81. The company 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 has a 1 year low of $65.82 and a 1 year high of $97.23. The firm has a fifty day moving average price of $81.41 and a 200-day moving average price of $80.22.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $2.36 EPS for the quarter, hitting analysts' consensus estimates of $2.36. The company had revenue of $995.70 million for the quarter, compared to analysts' expectations of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.Western Alliance Bancorporation's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the firm earned $2.07 EPS. As a group, equities analysts predict that Western Alliance Bancorporation will post 9.16 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

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

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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