Universal Beteiligungs und Servicegesellschaft mbH Cuts Holdings in Western Alliance Bancorporation (NYSE:WAL)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH reduced its stake in Western Alliance Bancorporation by 24% during the first quarter, owning 54,350 shares valued at $4.18 million at the end of the quarter.
• Major institutional investors, including Norges Bank and Barrow Hanley Mewhinney & Strauss LLC, have significantly increased their holdings in Western Alliance Bancorporation, indicating strong interest in the company.
• Western Alliance Bancorporation reported a quarterly EPS of $2.07, beating analysts' estimates, and declared a quarterly dividend of $0.38 per share, with an annualized yield of 1.88%.

Universal Beteiligungs und Servicegesellschaft mbH cut its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 24.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,350 shares of the financial services provider's stock after selling 17,148 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH's holdings in Western Alliance Bancorporation were worth $4,176,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. HWG Holdings LP acquired a new stake in shares of Western Alliance Bancorporation in the first quarter worth approximately $25,000. Tsfg LLC acquired a new stake in shares of Western Alliance Bancorporation in the first quarter worth approximately $33,000. UMB Bank n.a. boosted its stake 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 acquiring an additional 482 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Western Alliance Bancorporation by 144.5% in the first quarter. Larson Financial Group LLC now owns 1,714 shares of the financial services provider's stock worth $132,000 after acquiring an additional 1,013 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Western Alliance Bancorporation by 53.3% in the first quarter. GAMMA Investing LLC now owns 2,181 shares of the financial services provider's stock worth $168,000 after acquiring an additional 758 shares during the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Trading Down 1.7%

Shares of Western Alliance Bancorporation stock traded down $1.33 during trading hours on Friday, hitting $76.24. The company's stock had a trading volume of 364,469 shares, compared to its average volume of 1,122,643. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $98.10. The firm has a fifty day moving average of $77.82 and a 200-day moving average of $78.23. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 0.55 and a beta of 1.29. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.85.

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 the consensus estimate 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 business had revenue of $836.21 million for the quarter, compared to analyst estimates of $838.58 million. During the same quarter in the prior year, the company posted $1.75 EPS. Research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WAL shares. DA Davidson lifted their price target on Western Alliance Bancorporation from $90.00 to $98.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Citigroup lifted their price target on Western Alliance Bancorporation from $91.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Wells Fargo & Company lowered their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Monday, July 21st. Wall Street Zen raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. boosted their price objective on Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $96.62.

Insider Activity at Western Alliance Bancorporation

In related news, insider Tim R. Bruckner sold 2,500 shares of the business's 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 sale, the insider owned 24,759 shares in the company, valued at approximately $2,077,527.69. The trade was a 9.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.68% of the stock is currently owned by company insiders.

Western Alliance Bancorporation Company 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.