Watts Gwilliam & Co. LLC Makes New Investment in Western Alliance Bancorporation $WAL

Key Points

• Watts Gwilliam & Co. LLC invested approximately $237,000 to acquire 3,089 shares of Western Alliance Bancorporation during the 1st quarter, reflecting growing institutional interest in the financial services provider.
• Western Alliance Bancorporation announced a quarterly dividend of $0.38, representing a 1.8% yield based on an annualized dividend of $1.52, with a payout ratio of 19.97%.
• Research analysts rate Western Alliance Bancorporation as a "Moderate Buy" with an average price target of $96.62, indicating positive growth expectations for the stock.

Watts Gwilliam & Co. LLC bought a new position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,089 shares of the financial services provider's stock, valued at approximately $237,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its stake in Western Alliance Bancorporation by 15.8% in the 4th quarter. Wells Fargo & Company MN now owns 35,217 shares of the financial services provider's stock worth $2,942,000 after acquiring an additional 4,797 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Western Alliance Bancorporation by 20.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 52,710 shares of the financial services provider's stock worth $4,403,000 after purchasing an additional 9,075 shares during the period. Raymond James Financial Inc. purchased a new position in Western Alliance Bancorporation during the 4th quarter worth $2,695,000. Guggenheim Capital LLC grew its position in shares of Western Alliance Bancorporation by 236.0% during the 4th quarter. Guggenheim Capital LLC now owns 8,836 shares of the financial services provider's stock worth $738,000 after buying an additional 6,206 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Western Alliance Bancorporation by 11.5% during the 4th quarter. NewEdge Advisors LLC now owns 4,566 shares of the financial services provider's stock worth $381,000 after buying an additional 470 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Up 7.0%

NYSE WAL traded up $5.7370 during trading on Friday, hitting $87.1870. The company's stock had a trading volume of 2,047,122 shares, compared to its average volume of 931,845. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.82. The company has a market cap of $9.62 billion, a PE ratio of 11.46, a P/E/G ratio of 0.60 and a beta of 1.33. The business's 50 day simple moving average is $80.35 and its 200-day simple moving average is $77.16. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10.

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

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Thursday, August 14th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Thursday, August 14th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 19.97%.

Insider Activity

In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 2,500 shares of the business'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 completion of the transaction, the insider directly owned 24,759 shares of the company's stock, valued at approximately $2,077,527.69. The trade was a 9.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.75% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on WAL shares. Wall Street Zen raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. raised their price objective on Western Alliance Bancorporation from $80.00 to $87.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Piper Sandler boosted their target price on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Wells Fargo & Company reduced their target price on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating for the company in a report on Monday, July 21st. Finally, DA Davidson boosted their target price on shares of Western Alliance Bancorporation from $90.00 to $98.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.