Boston Partners Reduces Position in Western Alliance Bancorporation $WAL

Key Points

• Boston Partners reduced its position in Western Alliance Bancorporation by 44.3%, holding 131,416 shares valued at approximately $10 million after the sell-off.
• The company announced a quarterly dividend of $0.38 per share, with a total annualized dividend yield of 1.8% for shareholders of record on August 14th.
• Western Alliance reported $2.07 EPS for the last quarter, slightly beating analysts' expectations, while maintaining a consensus rating of "Moderate Buy" among research analysts.

Boston Partners lessened its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 44.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,416 shares of the financial services provider's stock after selling 104,399 shares during the quarter. Boston Partners owned about 0.12% of Western Alliance Bancorporation worth $10,088,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. HWG Holdings LP purchased a new stake in shares of Western Alliance Bancorporation in the first quarter valued at about $25,000. Tsfg LLC purchased a new position in Western Alliance Bancorporation in the 1st quarter valued at approximately $33,000. National Bank of Canada FI increased its stake in Western Alliance Bancorporation by 22.7% in the 1st quarter. National Bank of Canada FI now owns 763 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 141 shares in the last quarter. UMB Bank n.a. increased its stake in Western Alliance Bancorporation by 91.5% in the 1st quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 482 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in 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 worth $132,000 after buying an additional 1,013 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WAL has been the subject of several recent research reports. DA Davidson raised their price target on Western Alliance Bancorporation from $90.00 to $98.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Jefferies Financial Group assumed coverage on Western Alliance Bancorporation in a research report on Wednesday, May 21st. They set a "buy" rating and a $95.00 price target for the company. Barclays raised their price objective on Western Alliance Bancorporation from $97.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Truist Financial decreased their price objective 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. Finally, Citigroup raised their price objective on Western Alliance Bancorporation from $91.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $96.62.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 2,500 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $83.91, for a total transaction of $209,775.00. Following the transaction, the insider owned 24,759 shares in the company, valued at $2,077,527.69. The trade was a 9.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.75% of the company's stock.

Western Alliance Bancorporation Trading Down 1.2%

Western Alliance Bancorporation stock traded down $1.0130 during midday trading on Tuesday, reaching $81.8670. The stock had a trading volume of 971,845 shares, compared to its average volume of 1,111,875. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $98.10. The stock has a market capitalization of $9.04 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 0.57 and a beta of 1.33. 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 stock's 50-day simple moving average is $79.71 and its 200 day simple moving average is $77.31.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $2.07 earnings per share for the quarter, beating 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 firm had revenue of $836.21 million for the quarter, compared to analysts' expectations of $838.58 million. During the same quarter last year, the firm earned $1.75 earnings per share. Analysts expect 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. Investors of record on Thursday, August 14th will be issued a $0.38 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.9%. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 19.97%.

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.