Western Alliance Bancorporation $WAL Shares Purchased by Inspire Investing LLC

Key Points

• Inspire Investing LLC increased its stake in Western Alliance Bancorporation by 234.6% in Q1, owning 42,391 shares valued at $3,257,000 by the end of the reporting period.
• Western Alliance Bancorporation posted a quarterly EPS of $2.07, exceeding estimates, and had revenues of $836.21 million, slightly below expectations.
• Analysts have a consensus target price of $97.79 for Western Alliance Bancorporation, with 12 analysts

Inspire Investing LLC boosted its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 234.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,391 shares of the financial services provider's stock after acquiring an additional 29,722 shares during the quarter. Inspire Investing LLC's holdings in Western Alliance Bancorporation were worth $3,257,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. HWG Holdings LP acquired a new stake in shares of Western Alliance Bancorporation during the 1st quarter worth approximately $25,000. Tsfg LLC purchased a new stake in Western Alliance Bancorporation during the first quarter worth $33,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Western Alliance Bancorporation during the first quarter worth $58,000. National Bank of Canada FI grew its position in Western Alliance Bancorporation by 22.7% during the first quarter. National Bank of Canada FI now owns 763 shares of the financial services provider's stock valued at $59,000 after buying an additional 141 shares during the period. Finally, UMB Bank n.a. increased its holdings in Western Alliance Bancorporation by 91.5% in the first quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock valued at $78,000 after buying an additional 482 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on WAL shares. 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 target price on the stock. Citigroup reiterated a "neutral" rating on shares of Western Alliance Bancorporation in a research report on Tuesday, August 26th. Barclays raised their price objective on Western Alliance Bancorporation from $97.00 to $100.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. DA Davidson upped their target price on Western Alliance Bancorporation from $90.00 to $98.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Finally, Wells Fargo & Company decreased their target price on Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Monday, July 21st. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $97.79.

Western Alliance Bancorporation Stock Performance

Shares of NYSE:WAL opened at $89.64 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.82. The business's 50 day moving average price is $83.90 and its 200-day moving average price is $77.36. The firm has a market capitalization of $9.89 billion, a PE ratio of 11.78, a P/E/G ratio of 0.61 and a beta of 1.39. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted 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 firm had revenue of $836.21 million during 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 period in the prior year, the company earned $1.75 EPS. As a group, equities research analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

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

Insider Buying and Selling at Western Alliance Bancorporation

In other news, insider Tim R. Bruckner sold 2,500 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $83.91, for a total value of $209,775.00. Following the transaction, the insider directly owned 24,759 shares of the company's stock, valued at approximately $2,077,527.69. This trade represents a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.68% of the company's stock.

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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