Watts Gwilliam & Co. LLC Invests $237,000 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 acquired 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 acquired 3,089 shares of the financial services provider's stock, valued at approximately $237,000.

Other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its holdings in shares of Western Alliance Bancorporation by 15.8% during the 4th quarter. Wells Fargo & Company MN now owns 35,217 shares of the financial services provider's stock valued at $2,942,000 after buying an additional 4,797 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Western Alliance Bancorporation by 20.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 52,710 shares of the financial services provider's stock worth $4,403,000 after buying an additional 9,075 shares during the last quarter. Raymond James Financial Inc. bought a new position in Western Alliance Bancorporation during the fourth quarter valued at approximately $2,695,000. Guggenheim Capital LLC lifted its stake in Western Alliance Bancorporation by 236.0% in the fourth quarter. Guggenheim Capital LLC now owns 8,836 shares of the financial services provider's stock valued at $738,000 after acquiring an additional 6,206 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in Western Alliance Bancorporation by 11.5% in the fourth quarter. NewEdge Advisors LLC now owns 4,566 shares of the financial services provider's stock worth $381,000 after acquiring an additional 470 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WAL. Wells Fargo & Company cut their price target on shares of 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. Piper Sandler upped their price target on Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Stephens reissued an "overweight" rating and set a $92.00 price objective on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Barclays boosted their target price on Western Alliance Bancorporation from $97.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Truist Financial lowered their price target 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. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Western Alliance Bancorporation has a consensus rating of "Moderate Buy" and an average target price of $96.62.

Western Alliance Bancorporation Stock Up 0.3%

NYSE WAL opened at $82.83 on Tuesday. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $98.10. The stock has a market cap of $9.14 billion, a PE ratio of 10.88, a PEG ratio of 0.57 and a beta of 1.33. The firm has a 50-day simple moving average of $79.58 and a 200 day simple moving average of $77.28. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 0.86.

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 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $838.58 million. During the same quarter last year, the company earned $1.75 EPS. On average, research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Thursday, August 14th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, August 14th. Western Alliance Bancorporation's payout ratio is 19.97%.

Insider Transactions at Western Alliance Bancorporation

In other news, insider Tim R. Bruckner sold 2,500 shares of the stock in a transaction 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 completion of the transaction, the insider owned 24,759 shares in the company, valued at approximately $2,077,527.69. This represents a 9.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.75% of the stock is owned by company insiders.

Western Alliance Bancorporation 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.

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