Western Alliance Bancorporation $WAL Shares Purchased by Vaughan Nelson Investment Management L.P.

Key Points

• Vaughan Nelson Investment Management L.P. increased its stake in Western Alliance Bancorporation by 3.3%, holding 1,971,205 shares worth approximately $153.7 million.
• Western Alliance Bancorporation reported an EPS of $2.07 for the last quarter, slightly exceeding analysts' expectations, with revenues slightly below estimates at $836.21 million.
• The company announced a quarterly dividend of $0.38 per share, translating to an annualized yield of 1.8%, with a low dividend payout ratio of 19.97%.

Vaughan Nelson Investment Management L.P. boosted its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 3.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,971,205 shares of the financial services provider's stock after acquiring an additional 62,202 shares during the quarter. Western Alliance Bancorporation accounts for about 1.4% of Vaughan Nelson Investment Management L.P.'s portfolio, making the stock its 19th biggest holding. Vaughan Nelson Investment Management L.P. owned 1.79% of Western Alliance Bancorporation worth $153,715,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in WAL. Wealth Enhancement Advisory Services LLC grew its stake in Western Alliance Bancorporation by 5.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,087 shares of the financial services provider's stock valued at $258,000 after acquiring an additional 166 shares during the period. GAMMA Investing LLC grew its stake in Western Alliance Bancorporation by 11,675.5% in the 1st quarter. GAMMA Investing LLC now owns 167,566 shares of the financial services provider's stock valued at $12,874,000 after acquiring an additional 166,143 shares during the period. Rhumbline Advisers grew its stake in Western Alliance Bancorporation by 0.9% in the 1st quarter. Rhumbline Advisers now owns 304,742 shares of the financial services provider's stock valued at $23,413,000 after acquiring an additional 2,805 shares during the period. Portside Wealth Group LLC acquired a new stake in Western Alliance Bancorporation in the 1st quarter valued at $217,000. Finally, Vest Financial LLC acquired a new stake in Western Alliance Bancorporation in the 1st quarter valued at $919,000. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Up 1.4%

NYSE WAL opened at $86.69 on Friday. Western Alliance Bancorporation has a 52 week low of $57.05 and a 52 week high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The business's fifty day simple moving average is $85.49 and its 200-day simple moving average is $78.32. The firm has a market cap of $9.57 billion, a PE ratio of 11.39, a P/E/G ratio of 0.59 and a beta of 1.35.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.07 EPS for the quarter, topping the consensus estimate 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 business had revenue of $836.21 million for the quarter, compared to analyst estimates of $838.58 million. During the same quarter in the previous year, the firm earned $1.75 EPS. As a group, equities analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Thursday, August 14th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, August 14th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 19.97%.

Analyst Upgrades and Downgrades

WAL has been the topic of a number of research reports. TD Cowen initiated coverage on Western Alliance Bancorporation in a report on Thursday, September 25th. They issued a "buy" rating and a $118.00 price objective on the stock. Weiss Ratings restated a "buy (b-)" rating on shares of Western Alliance Bancorporation in a report on Saturday, September 27th. DA Davidson raised their price objective on Western Alliance Bancorporation from $90.00 to $98.00 and gave the company a "buy" rating in a report on Monday, July 21st. National Bankshares set a $118.00 price objective on Western Alliance Bancorporation in a report on Wednesday, September 24th. Finally, Citigroup restated a "neutral" rating on shares of Western Alliance Bancorporation in a report on Tuesday, August 26th. Fourteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.53.

Insider Activity

In related news, insider Tim R. Bruckner sold 2,500 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $83.91, for a total transaction of $209,775.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.

Want to see what other hedge funds are holding WAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Alliance Bancorporation (NYSE:WAL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.