Vanguard Group Inc. Decreases Position in Western Alliance Bancorporation (NYSE:WAL)

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

Other institutional investors have also recently made changes to their positions in the company. Allianz SE acquired a new stake in shares of Western Alliance Bancorporation in the 1st quarter worth about $340,000. Scotia Capital Inc. acquired a new stake in shares of Western Alliance Bancorporation in the 1st quarter worth about $1,403,000. Arkadios Wealth Advisors acquired a new stake in shares of Western Alliance Bancorporation in the 1st quarter worth about $576,000. XTX Topco Ltd acquired a new stake in shares of Western Alliance Bancorporation in the 1st quarter worth about $710,000. Finally, Federated Hermes Inc. raised its holdings in shares of Western Alliance Bancorporation by 9.8% in the 1st quarter. Federated Hermes Inc. now owns 12,040 shares of the financial services provider's stock worth $925,000 after acquiring an additional 1,075 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 2,500 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $83.91, for a total value of $209,775.00. Following the sale, the insider directly owned 24,759 shares in the company, valued at $2,077,527.69. This represents a 9.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.68% of the stock is owned by corporate insiders.

Western Alliance Bancorporation Stock Performance

WAL traded down $1.35 on Friday, hitting $82.59. The company's stock had a trading volume of 1,102,476 shares, compared to its average volume of 1,135,361. The company's 50 day simple moving average is $79.40 and its 200-day simple moving average is $77.40. The firm has a market cap of $9.12 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 0.57 and a beta of 1.33. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.95.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.07 EPS for the quarter, topping the consensus estimate of $2.04 by $0.03. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. The company had revenue of $836.21 million during the quarter, compared to the consensus estimate of $838.58 million. During the same period last year, the firm earned $1.75 EPS. Analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced 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. The ex-dividend date is Thursday, August 14th. This represents a $1.52 annualized dividend and a yield of 1.8%. Western Alliance Bancorporation's dividend payout ratio is currently 19.97%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WAL. Jefferies Financial Group began coverage on shares of Western Alliance Bancorporation in a research report on Wednesday, May 21st. They issued a "buy" rating and a $95.00 price objective for the company. Truist Financial reduced their price objective on shares of Western Alliance Bancorporation from $96.00 to $93.00 and set a "buy" rating for the company in a research report on Monday, July 21st. Piper Sandler upped their price objective on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. upped their price objective on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, Wall Street Zen raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $96.62.

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.