Western Alliance Bancorporation $WAL Stock Holdings Lowered by Amundi

Key Points

• Amundi cut its Western Alliance Bancorporation stake by 81.5% in the second quarter, selling 77,258 shares and retaining 17,578 shares valued at approximately $1.45 million.
• Institutional ownership remains substantial at 79.15% of outstanding shares, with BlackRock and California State Teachers Retirement System making significant investments during the period.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $95.47. Western Alliance reported $2.36 in quarterly EPS and $995.7 million in revenue, up 17.7% year over year.

Amundi lessened its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 81.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,578 shares of the financial services provider's stock after selling 77,258 shares during the period. Amundi's holdings in Western Alliance Bancorporation were worth $1,445,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WAL. BlackRock Inc. bought a new stake in shares of Western Alliance Bancorporation during the second quarter valued at approximately $926,898,000. California State Teachers Retirement System boosted its position in Western Alliance Bancorporation by 7,896.6% during the 2nd quarter. California State Teachers Retirement System now owns 9,943,405 shares of the financial services provider's stock worth $817,348,000 after acquiring an additional 9,819,060 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Western Alliance Bancorporation by 9.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,746,867 shares of the financial services provider's stock worth $735,350,000 after purchasing an additional 777,369 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Western Alliance Bancorporation by 7.9% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,450,408 shares of the financial services provider's stock valued at $542,286,000 after purchasing an additional 470,492 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Western Alliance Bancorporation by 3.4% during the third quarter. Invesco Ltd. now owns 6,016,027 shares of the financial services provider's stock valued at $521,710,000 after purchasing an additional 197,854 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WAL. Stifel Nicolaus set a $95.00 target price on shares of Western Alliance Bancorporation in a research report on Thursday, July 23rd. TD Cowen increased their price objective on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a "hold" rating in a report on Monday, July 27th. Piper Sandler boosted their target price on Western Alliance Bancorporation from $92.00 to $97.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. JPMorgan Chase & Co. upped their target price on Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a "neutral" rating in a research report on Thursday, July 23rd. Finally, Mizuho set a $96.00 price target on Western Alliance Bancorporation in a research 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $95.47.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $79.27 on Monday. The company has a 50-day moving average of $80.93 and a two-hundred day moving average of $78.70. The stock has a market cap of $8.65 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 0.76 and a beta of 1.33. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.86 and a quick ratio of 0.81. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23.

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

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were issued a $0.42 dividend. The ex-dividend date was Thursday, August 13th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. Western Alliance Bancorporation's dividend payout ratio is presently 18.92%.

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 and financial services to businesses, entrepreneurs, professionals and individual customers.

Western Alliance Bank offers commercial and industrial lending, commercial real estate financing, treasury management, deposit products, mortgage warehouse lending and other specialized banking services. Its business lines also serve technology companies, life sciences firms, entertainment businesses, homeowners' associations, institutional investors and other niche markets.

The company serves customers through a combination of relationship-focused regional banking and specialized national platforms.

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