Vanguard Group Inc. Lowers Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Vanguard Group Inc. lessened its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 0.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,677,670 shares of the financial services provider's stock after selling 41,378 shares during the quarter. Vanguard Group Inc. owned about 9.65% of Western Alliance Bancorporation worth $820,365,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of WAL. HWG Holdings LP acquired a new stake in Western Alliance Bancorporation in the 1st quarter valued at about $25,000. Tsfg LLC acquired a new position in Western Alliance Bancorporation in the first quarter worth $33,000. UMB Bank n.a. boosted its holdings in shares of Western Alliance Bancorporation by 91.5% during the first quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock valued at $78,000 after acquiring an additional 482 shares during the period. Larson Financial Group LLC raised its stake in shares of Western Alliance Bancorporation by 144.5% during the first quarter. Larson Financial Group LLC now owns 1,714 shares of the financial services provider's stock valued at $132,000 after purchasing an additional 1,013 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in 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 in the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 2,500 shares of the firm'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 completion of the sale, the insider directly owned 24,759 shares of the company's stock, valued at $2,077,527.69. This trade represents a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.68% of the stock is owned by company insiders.

Western Alliance Bancorporation Price Performance

Shares of Western Alliance Bancorporation stock traded down $1.35 during trading on Friday, reaching $82.59. 1,102,476 shares of the company's stock were exchanged, compared to its average volume of 1,135,361. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $98.10. The firm's 50-day moving average price is $79.40 and its 200 day moving average price is $77.48. 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 company has a market cap of $9.12 billion, a P/E ratio of 10.85, a PEG ratio of 0.58 and a beta of 1.33.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its 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 company 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 earned $1.75 EPS. As a group, research analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders 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 yield of 1.8%. The ex-dividend date is Thursday, August 14th. Western Alliance Bancorporation's dividend payout ratio is 19.97%.

Analyst Ratings Changes

WAL has been the topic of several research analyst reports. Truist Financial lowered their target price on Western Alliance Bancorporation from $96.00 to $93.00 and set a "buy" rating on the stock in a research note on Monday, July 21st. Wells Fargo & Company dropped their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating for the company in a research note on Monday, July 21st. Stephens reiterated an "overweight" rating and issued a $92.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Barclays raised 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. Finally, Wall Street Zen upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.