Western Alliance Bancorporation $WAL Shares Purchased by Algert Global LLC

Key Points

• Algert Global increased its Western Alliance Bancorporation stake by 15.1% in the second quarter, purchasing 43,973 shares to bring its holdings to 336,109 shares valued at approximately $27.6 million. Institutional investors collectively own 79.15% of the company.
• Analysts maintain a positive outlook, with 11 Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and an average price target of $95.47. WAL opened at $78.38, down 1.6%.
• Western Alliance matched quarterly earnings estimates at $2.36 per share and exceeded revenue expectations with $995.7 million, up 17.7% year over year. The company also declared a quarterly dividend of $0.42 per share, representing a 2.1% yield.

Algert Global LLC boosted its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 15.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 336,109 shares of the financial services provider's stock after purchasing an additional 43,973 shares during the quarter. Algert Global LLC owned approximately 0.31% of Western Alliance Bancorporation worth $27,628,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Quadrant Capital Group LLC grew its position in shares of Western Alliance Bancorporation by 1.9% in the fourth quarter. Quadrant Capital Group LLC now owns 6,008 shares of the financial services provider's stock valued at $505,000 after purchasing an additional 113 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Western Alliance Bancorporation by 4.2% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,342 shares of the financial services provider's stock worth $237,000 after purchasing an additional 134 shares during the last quarter. Truist Financial Corp lifted its stake in Western Alliance Bancorporation by 5.2% in the 4th quarter. Truist Financial Corp now owns 3,102 shares of the financial services provider's stock valued at $261,000 after buying an additional 152 shares in the last quarter. Allworth Financial LP lifted its stake in Western Alliance Bancorporation by 39.3% in the 4th quarter. Allworth Financial LP now owns 557 shares of the financial services provider's stock valued at $47,000 after buying an additional 157 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in Western Alliance Bancorporation by 2.4% during the 4th quarter. Arkadios Wealth Advisors now owns 8,134 shares of the financial services provider's stock valued at $684,000 after buying an additional 187 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on WAL. Stephens set a $95.00 price objective on Western Alliance Bancorporation and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Truist Financial boosted their target price on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a "buy" rating in a research note on Monday, July 27th. DA Davidson set a $36.00 target price on shares of Western Alliance Bancorporation in a report on Wednesday, July 22nd. TD Cowen raised their price target on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the stock a "hold" rating in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Western Alliance Bancorporation from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, May 26th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $95.47.

Western Alliance Bancorporation Stock Down 1.6%

WAL opened at $78.38 on Tuesday. Western Alliance Bancorporation has a 12 month low of $65.82 and a 12 month high of $97.23. The business has a 50-day moving average of $81.35 and a two-hundred day moving average of $80.06. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.86 and a quick ratio of 0.81. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 0.77 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share 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 for the quarter, compared to analyst estimates of $980.53 million. During the same period in the prior year, the firm posted $2.07 EPS. The company's revenue was up 17.7% on a year-over-year basis. On average, research analysts expect that Western Alliance Bancorporation will post 9.16 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

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

Insiders Place Their Bets

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the stock in a transaction that occurred 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 owned 3,485 shares of the company's stock, valued at $282,285. This trade represents a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.76% of the stock is currently owned by corporate insiders.

Western Alliance Bancorporation Company Profile

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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