Western Alliance Bancorporation $WAL Holdings Increased by Quantinno Capital Management LP

Key Points

• Quantinno Capital Management increased its Western Alliance Bancorporation stake by 36.8% in the first quarter, acquiring 66,975 additional shares for a total holding of 249,103 shares valued at approximately $17.65 million. Institutional investors and hedge funds collectively own 79.15% of WAL.
• Western Alliance reported quarterly earnings of $2.36 per share, matching analyst estimates, while revenue of $995.7 million exceeded expectations and rose 17.7% year over year. The company maintained a quarterly dividend of $0.42 per share, equivalent to a 2.1% annual yield.
• Analyst sentiment remains positive, with 11 Buy ratings and four Holds producing a consensus “Moderate Buy” rating and an average price target of $94.82, above the stock’s reported $80.53 price.

Quantinno Capital Management LP lifted its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 36.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 249,103 shares of the financial services provider's stock after acquiring an additional 66,975 shares during the quarter. Quantinno Capital Management LP owned about 0.23% of Western Alliance Bancorporation worth $17,649,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in Western Alliance Bancorporation by 9.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,746,867 shares of the financial services provider's stock valued at $735,350,000 after purchasing an additional 777,369 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Western Alliance Bancorporation by 7.9% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,450,408 shares of the financial services provider's stock worth $542,286,000 after buying an additional 470,492 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Western Alliance Bancorporation by 3.4% in the third quarter. Invesco Ltd. now owns 6,016,027 shares of the financial services provider's stock valued at $521,710,000 after buying an additional 197,854 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Western Alliance Bancorporation by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,813,995 shares of the financial services provider's stock valued at $270,203,000 after buying an additional 36,534 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Western Alliance Bancorporation by 1.6% during the third quarter. Wellington Management Group LLP now owns 2,288,233 shares of the financial services provider's stock worth $198,436,000 after acquiring an additional 36,364 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Price Performance

Shares of WAL opened at $80.53 on Monday. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 0.78 and a beta of 1.34. Western Alliance Bancorporation has a fifty-two week low of $65.82 and a fifty-two week high of $97.23. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.80. The business's 50-day moving average is $81.00 and its 200-day moving average is $80.92.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.36 EPS for the quarter, hitting the consensus estimate of $2.36. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.40%. The business had revenue of $995.70 million during the quarter, compared to analysts' expectations of $980.53 million. During the same period last year, the company posted $2.07 earnings per share. The firm's quarterly revenue was up 17.7% compared to the same quarter last year. Equities research analysts expect that Western Alliance Bancorporation will post 9.16 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. Western Alliance Bancorporation's dividend payout ratio (DPR) is 18.92%.

Insider Activity at Western Alliance Bancorporation

In other news, CAO Ben Mucha sold 5,946 shares of the business's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $81.00, for a total transaction of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares in the company, valued at $282,285. The trade was a 63.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group raised their price objective on shares of Western Alliance Bancorporation from $75.00 to $80.00 and gave the company a "neutral" rating in a research report on Monday, April 27th. TD Cowen increased their target price on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a "hold" rating in a research note on Monday, July 27th. Stephens set a $95.00 target price on shares of Western Alliance Bancorporation and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Truist Financial lifted their price target on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Finally, Barclays cut their target price on Western Alliance Bancorporation from $90.00 to $88.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 7th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $94.82.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company's core offerings include deposit products, treasury management and a variety of lending services.

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