Western Alliance Bancorporation $WAL Shares Sold by First Trust Advisors LP

First Trust Advisors LP lowered its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 30.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 220,556 shares of the financial services provider's stock after selling 94,515 shares during the period. First Trust Advisors LP owned approximately 0.20% of Western Alliance Bancorporation worth $15,626,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Clearstead Advisors LLC increased its stake in Western Alliance Bancorporation by 144.6% in the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider's stock valued at $35,000 after buying an additional 243 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter worth about $38,000. Assetmark Inc. increased its stake in shares of Western Alliance Bancorporation by 86.0% during the first quarter. Assetmark Inc. now owns 560 shares of the financial services provider's stock worth $40,000 after acquiring an additional 259 shares during the period. Leonteq Securities AG purchased a new position in Western Alliance Bancorporation during the fourth quarter worth about $44,000. Finally, V Square Quantitative Management LLC acquired a new stake in Western Alliance Bancorporation in the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL opened at $81.23 on Friday. The business's 50 day simple moving average is $80.96 and its 200-day simple moving average is $80.97. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 0.78 and a beta of 1.34. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.80. Western Alliance Bancorporation has a 12 month low of $65.82 and a 12 month high of $97.23.

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

Insiders Place Their Bets

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the company's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $81.00, for a total value of $481,626.00. Following the sale, the chief accounting officer owned 3,485 shares of the company's stock, valued at approximately $282,285. This represents a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.76% of the company's stock.

Analysts Set New Price Targets

WAL has been the topic of several recent analyst reports. TD Cowen boosted their target price on Western Alliance Bancorporation from $89.00 to $90.00 and gave the stock a "hold" rating in a research report on Monday. JPMorgan Chase & Co. lifted their price target on Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a "neutral" rating in a research note on Thursday, July 23rd. UBS Group upped their price objective on Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. Keefe, Bruyette & Woods increased their price objective on Western Alliance Bancorporation from $93.00 to $94.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Finally, Stifel Nicolaus set a $95.00 target price on Western Alliance Bancorporation in a report on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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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