Toth Financial Advisory Corp Sells 10,250 Shares of Western Alliance Bancorporation $WAL

Key Points

• Toth Financial Advisory Corp significantly reduced its stake in Western Alliance Bancorporation by selling 10,250 shares, resulting in a 95.5% decrease in their holdings, which are now worth $38,000.
• Research analysts mostly maintain a positive outlook on Western Alliance, with twelve firms giving it a Buy rating and an average target price of $97.79.
• The company has recently announced a quarterly dividend of $0.38, which translates to an annualized yield of 1.7%, with a low payout ratio of 19.97%.

Toth Financial Advisory Corp lowered its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 95.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 484 shares of the financial services provider's stock after selling 10,250 shares during the period. Toth Financial Advisory Corp's holdings in Western Alliance Bancorporation were worth $38,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of WAL. HWG Holdings LP purchased a new position in shares of Western Alliance Bancorporation in the first quarter worth about $25,000. Tsfg LLC purchased a new position in shares of Western Alliance Bancorporation in the first quarter worth about $33,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Western Alliance Bancorporation in the first quarter worth about $58,000. National Bank of Canada FI increased its holdings in shares of Western Alliance Bancorporation by 22.7% in the first quarter. National Bank of Canada FI now owns 763 shares of the financial services provider's stock worth $59,000 after buying an additional 141 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of Western Alliance Bancorporation by 91.5% in the first quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock worth $78,000 after buying an additional 482 shares during the period. Hedge funds and other institutional investors own 79.15% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on WAL. Truist Financial decreased their price objective on Western Alliance Bancorporation from $96.00 to $93.00 and set a "buy" rating on the stock in a report on Monday, July 21st. Industrial Alliance Securities set a $104.00 price objective on Western Alliance Bancorporation in a report on Tuesday, August 26th. Citigroup reiterated a "neutral" rating on shares of Western Alliance Bancorporation in a report on Tuesday, August 26th. DA Davidson boosted their price target on Western Alliance Bancorporation from $90.00 to $98.00 and gave the company a "buy" rating in a report on Monday, July 21st. Finally, Piper Sandler boosted their price target on Western Alliance Bancorporation from $94.00 to $105.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and a consensus target price of $97.79.

Insider Transactions at Western Alliance Bancorporation

In related news, insider Tim R. Bruckner sold 2,500 shares of the company's stock in a transaction that occurred 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 transaction, the insider directly owned 24,759 shares of the company's stock, valued at approximately $2,077,527.69. This represents a 9.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.75% of the company's stock.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $90.94 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The business's 50 day moving average price is $84.47 and its 200-day moving average price is $77.51. Western Alliance Bancorporation has a 52 week low of $57.05 and a 52 week high of $98.10. The stock has a market cap of $10.04 billion, a P/E ratio of 11.95, a P/E/G ratio of 0.63 and a beta of 1.39.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.07 EPS for the quarter, topping 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 firm had revenue of $836.21 million for the quarter, compared to analysts' expectations of $838.58 million. During the same period in the previous year, the firm posted $1.75 EPS. Equities research analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Thursday, August 14th were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.52 annualized dividend and a yield of 1.7%. Western Alliance Bancorporation's dividend payout ratio is 19.97%.

Western Alliance Bancorporation Profile

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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