Western Alliance Bancorporation $WAL Holdings Lifted by Generate Investment Management Ltd

Key Points

• Generate Investment Management Ltd increased its stake in Western Alliance Bancorporation by 9.8%, owning 319,449 shares, representing about 1.4% of its investment portfolio.
• Western Alliance Bancorporation reported $2.07 EPS for the last quarter, beating analysts' expectations by $0.03, while revenue was slightly below expectations at $836.21 million.
• The company's recent quarterly dividend of $0.38 per share reflects an annualized yield of 1.7%, with a dividend payout ratio of 19.97%.

Generate Investment Management Ltd boosted its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 9.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 319,449 shares of the financial services provider's stock after acquiring an additional 28,518 shares during the quarter. Western Alliance Bancorporation comprises about 1.4% of Generate Investment Management Ltd's investment portfolio, making the stock its 21st biggest holding. Generate Investment Management Ltd owned 0.29% of Western Alliance Bancorporation worth $24,911,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in WAL. GAMMA Investing LLC lifted its stake in Western Alliance Bancorporation by 53.3% during 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. New York State Teachers Retirement System lifted its position in shares of Western Alliance Bancorporation by 24.9% during the 1st quarter. New York State Teachers Retirement System now owns 25,387 shares of the financial services provider's stock valued at $1,950,000 after acquiring an additional 5,056 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Western Alliance Bancorporation by 22.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,380 shares of the financial services provider's stock worth $337,000 after acquiring an additional 808 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Western Alliance Bancorporation by 5.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,262 shares of the financial services provider's stock worth $251,000 after acquiring an additional 175 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Western Alliance Bancorporation by 16.8% in the 1st quarter. Russell Investments Group Ltd. now owns 34,078 shares of the financial services provider's stock worth $2,618,000 after acquiring an additional 4,895 shares during the last quarter. Institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Price Performance

NYSE WAL opened at $88.31 on Monday. The stock has a 50-day simple moving average of $85.07 and a 200 day simple moving average of $78.00. 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 $9.75 billion, a PE ratio of 11.60, a P/E/G ratio of 0.61 and a beta of 1.39. 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 released its earnings results on Thursday, July 17th. The financial services provider reported $2.07 earnings per share (EPS) 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 analyst estimates of $838.58 million. During the same quarter last year, the firm posted $1.75 EPS. Research analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 14th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.7%. Western Alliance Bancorporation's dividend payout ratio is 19.97%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WAL. National Bankshares set a $118.00 target price on Western Alliance Bancorporation in a report on Wednesday. DA Davidson raised their target price on shares of Western Alliance Bancorporation from $90.00 to $98.00 and gave the stock a "buy" 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 company an "overweight" rating in a report on Tuesday, July 8th. Citigroup reaffirmed a "neutral" rating on shares of Western Alliance Bancorporation in a research note on Tuesday, August 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $100.00.

Insider Transactions at Western Alliance Bancorporation

In other news, insider Tim R. Bruckner sold 2,500 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were 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 approximately $2,077,527.69. The trade was a 9.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.75% of the stock is owned by corporate insiders.

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.

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