Stanley Capital Management LLC Acquires Shares of 192,000 Western Alliance Bancorporation $WAL

Key Points

• Stanley Capital Management acquired 192,000 shares of Western Alliance Bancorporation, valued at approximately $15.8 million, representing about 0.18% of the bank and 2.1% of Stanley Capital’s portfolio.
• Institutional ownership remains high at 79.15%, with major investors including BlackRock, Davis Asset Management, Barrow Hanley, Norges Bank and Bank of New York Mellon establishing or expanding positions.
• Western Alliance reported second-quarter EPS of $2.36, matching estimates, while revenue rose 17.7% year over year to $995.7 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $95.47, and the company declared a quarterly dividend of $0.42 per share.

Stanley Capital Management LLC acquired a new position in Western Alliance Bancorporation (NYSE:WAL - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 192,000 shares of the financial services provider's stock, valued at approximately $15,782,000. Western Alliance Bancorporation makes up about 2.1% of Stanley Capital Management LLC's investment portfolio, making the stock its 22nd biggest holding. Stanley Capital Management LLC owned approximately 0.18% of Western Alliance Bancorporation as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at approximately $926,898,000. Davis Asset Management L.P. purchased a new position in Western Alliance Bancorporation in the second quarter worth approximately $274,219,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Western Alliance Bancorporation during the second quarter worth $174,329,000. Norges Bank acquired a new stake in Western Alliance Bancorporation during the fourth quarter worth $125,482,000. Finally, Bank of New York Mellon Corp purchased a new stake in Western Alliance Bancorporation in the second quarter valued at $72,621,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WAL has been the topic of a number of research analyst reports. Stephens set a $95.00 price target on shares of Western Alliance Bancorporation and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Citigroup lifted their target price on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the company a "buy" rating in a report on Thursday, June 25th. TD Cowen boosted their price objective on Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a "hold" rating in a report on Monday, July 27th. Truist Financial upped their price objective on Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Finally, DA Davidson set a $36.00 target price on shares of Western Alliance Bancorporation in a report on Wednesday, July 22nd. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.47.

Insider Activity at Western Alliance Bancorporation

In other news, CAO Ben Mucha sold 5,946 shares of the business's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $81.00, for a total value of $481,626.00. Following the completion of the sale, the chief accounting officer directly owned 3,485 shares of the company's stock, valued at approximately $282,285. The trade was a 63.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.76% of the company's stock.

Western Alliance Bancorporation Stock Up 1.7%

Shares of NYSE:WAL opened at $79.73 on Wednesday. The firm has a 50 day simple moving average of $81.31 and a 200-day simple moving average of $79.98. Western Alliance Bancorporation has a twelve month low of $65.82 and a twelve month high of $97.23. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $8.70 billion, a PE ratio of 8.98, a P/E/G ratio of 0.76 and a beta of 1.34.

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

Western Alliance Bancorporation Announces Dividend

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

About Western Alliance Bancorporation

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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