Swiss National Bank Has $15.56 Million Stake in Western Alliance Bancorporation (NYSE:WAL)

Swiss National Bank decreased its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 202,500 shares of the financial services provider's stock after selling 3,200 shares during the quarter. Swiss National Bank owned about 0.18% of Western Alliance Bancorporation worth $15,558,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Deutsche Bank AG grew its position in shares of Western Alliance Bancorporation by 215.8% in the first quarter. Deutsche Bank AG now owns 18,993 shares of the financial services provider's stock valued at $1,459,000 after purchasing an additional 12,979 shares during the last quarter. Allianz SE acquired a new stake in Western Alliance Bancorporation during the first quarter worth approximately $340,000. Scotia Capital Inc. acquired a new stake in Western Alliance Bancorporation during the first quarter worth approximately $1,403,000. Arkadios Wealth Advisors acquired a new stake in Western Alliance Bancorporation during the first quarter worth approximately $576,000. Finally, XTX Topco Ltd acquired a new stake in Western Alliance Bancorporation during the first quarter worth approximately $710,000. Institutional investors and hedge funds own 79.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Stephens reissued an "overweight" rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Truist Financial reduced their price target on 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. Barclays increased their price target on Western Alliance Bancorporation from $97.00 to $100.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Citigroup increased their price target on Western Alliance Bancorporation from $91.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, DA Davidson increased their price target on Western Alliance Bancorporation from $90.00 to $98.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $96.62.

Insider Activity at Western Alliance Bancorporation

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

Western Alliance Bancorporation Stock Up 2.5%

Shares of WAL opened at $84.80 on Thursday. Western Alliance Bancorporation has a 52 week low of $57.05 and a 52 week high of $98.10. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.57 and a beta of 1.33. 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 stock has a fifty day moving average of $79.00 and a 200-day moving average of $77.59.

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

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Thursday, August 14th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is 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.

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