Victory Capital Management Inc. Sells 10,037 Shares of Western Alliance Bancorporation (NYSE:WAL)

Victory Capital Management Inc. decreased its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 33.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 20,042 shares of the financial services provider's stock after selling 10,037 shares during the period. Victory Capital Management Inc.'s holdings in Western Alliance Bancorporation were worth $1,540,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of WAL. HWG Holdings LP bought a new position in shares of Western Alliance Bancorporation during the 1st quarter valued at $25,000. Tsfg LLC acquired a new position in Western Alliance Bancorporation during the 1st quarter worth $33,000. UMB Bank n.a. boosted its holdings in Western Alliance Bancorporation by 91.5% during the first quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock valued at $78,000 after acquiring an additional 482 shares during the period. Larson Financial Group LLC grew its position in shares of Western Alliance Bancorporation by 144.5% in the first quarter. Larson Financial Group LLC now owns 1,714 shares of the financial services provider's stock valued at $132,000 after purchasing an additional 1,013 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Western Alliance Bancorporation by 53.3% in the first quarter. GAMMA Investing LLC now owns 2,181 shares of the financial services provider's stock valued at $168,000 after purchasing an additional 758 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Wall Street Analyst Weigh In

WAL has been the topic of several research reports. Piper Sandler boosted their price objective 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. Barclays boosted their price target on shares of Western Alliance Bancorporation from $97.00 to $100.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Jefferies Financial Group began coverage on shares of Western Alliance Bancorporation in a research note on Wednesday, May 21st. They set a "buy" rating and a $95.00 price target for the company. Stephens reaffirmed an "overweight" rating and issued a $92.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Finally, Royal Bank Of Canada lowered their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $96.62.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL traded down $1.23 during midday trading on Friday, hitting $76.33. The company's stock had a trading volume of 999,220 shares, compared to its average volume of 1,066,573. The stock has a fifty day moving average price of $77.91 and a 200 day moving average price of $78.18. Western Alliance Bancorporation has a one year low of $57.05 and a one year high of $98.10. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $8.43 billion, a price-to-earnings ratio of 10.03, a P/E/G ratio of 0.54 and a beta of 1.29.

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

Insider Activity

In related news, insider Tim R. Bruckner sold 2,500 shares of the firm's 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 of the company's stock, valued at $2,077,527.69. This trade represents 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 the SEC website. Insiders own 2.68% of the company's stock.

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.