TCW Group Inc. Raises Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Key Points

• TCW Group Inc. increased its stake in Western Alliance Bancorporation by 18.8% during the first quarter, now holding 48,819 shares valued at approximately $3.75 million.
• Several research analysts have revised their price targets for Western Alliance Bancorporation, with Barclays setting a new target of $100.00 and JPMorgan raising theirs to $87.00.
• The company recently reported an EPS of $2.07 for the last quarter, slightly surpassing analysts' expectations, alongside a quarterly dividend of $0.38 per share.

TCW Group Inc. increased its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 18.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,819 shares of the financial services provider's stock after purchasing an additional 7,720 shares during the period. TCW Group Inc.'s holdings in Western Alliance Bancorporation were worth $3,751,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in WAL. Raymond James Financial Inc. purchased a new position in Western Alliance Bancorporation in the 4th quarter worth approximately $2,695,000. LPL Financial LLC raised its holdings in shares of Western Alliance Bancorporation by 7.5% during the 4th quarter. LPL Financial LLC now owns 146,303 shares of the financial services provider's stock worth $12,222,000 after acquiring an additional 10,245 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Western Alliance Bancorporation by 33.3% during the 4th quarter. JPMorgan Chase & Co. now owns 254,902 shares of the financial services provider's stock worth $21,295,000 after acquiring an additional 63,714 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Western Alliance Bancorporation by 331.6% during the 4th quarter. Blair William & Co. IL now owns 52,264 shares of the financial services provider's stock worth $4,366,000 after acquiring an additional 40,154 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $109,298,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 2,500 shares of the company'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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WAL. Piper Sandler upped their price objective on Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Barclays boosted their target price on Western Alliance Bancorporation from $97.00 to $100.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Wall Street Zen raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Royal Bank Of Canada cut their target price on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. boosted their target price 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. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $96.62.

Western Alliance Bancorporation Trading Down 1.8%

Western Alliance Bancorporation stock traded down $1.40 during mid-day trading on Thursday, hitting $77.71. The company's stock had a trading volume of 514,126 shares, compared to its average volume of 1,124,479. The company has a 50 day moving average of $77.71 and a 200-day moving average of $78.25. The stock has a market cap of $8.58 billion, a PE ratio of 10.20, a P/E/G ratio of 0.56 and a beta of 1.29. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.85. Western Alliance Bancorporation has a one year low of $57.05 and a one year 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 EPS for the quarter, beating the consensus estimate of $2.04 by $0.03. The company had revenue of $836.21 million for the quarter, compared to the consensus estimate of $838.58 million. Western Alliance Bancorporation had a return on equity of 12.62% and a net margin of 16.39%. During the same quarter in the prior year, the company posted $1.75 EPS. On average, research analysts anticipate 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 was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio is 19.97%.

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.