Universal Beteiligungs und Servicegesellschaft mbH Has $4.18 Million Stake 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 decreased its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 24.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in WAL. Norges Bank bought a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth about $109,298,000. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Western Alliance Bancorporation by 55.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock worth $151,604,000 after purchasing an additional 648,983 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Western Alliance Bancorporation by 23.5% during the fourth quarter. Janus Henderson Group PLC now owns 2,341,553 shares of the financial services provider's stock worth $195,616,000 after purchasing an additional 445,176 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Western Alliance Bancorporation by 973.1% during the fourth quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider's stock worth $35,239,000 after purchasing an additional 382,513 shares during the last quarter. Finally, Global Frontier Investments LLC bought a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth about $23,809,000. 79.15% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 transaction, the insider directly owned 24,759 shares in the company, valued at $2,077,527.69. This trade represents a 9.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.75% of the company's stock.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock opened at $80.75 on Tuesday. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 0.57 and a beta of 1.29. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $98.10. The stock's 50 day moving average price is $77.46 and its two-hundred day moving average price is $78.23. 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 posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.04 by $0.03. The firm had revenue of $836.21 million for the quarter, compared to analysts' expectations of $838.58 million. Western Alliance Bancorporation had a return on equity of 12.62% and a net margin of 16.39%. During the same period in the prior year, the business earned $1.75 EPS. On average, equities analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Thursday, May 15th. Western Alliance Bancorporation's payout ratio is 19.97%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on WAL shares. Jefferies Financial Group started coverage on Western Alliance Bancorporation in a report on Wednesday, May 21st. They set a "buy" rating and a $95.00 price target on the stock. Truist Financial reduced their target price 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. DA Davidson upped their target price on Western Alliance Bancorporation from $90.00 to $98.00 and gave the company a "buy" rating in a report on Monday, July 21st. Citigroup upped their target price on Western Alliance Bancorporation from $91.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, Wells Fargo & Company reduced their target price on Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating on the stock in a report on Monday, July 21st. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.62.

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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