Westwood Holdings Group Inc. Sells 9,963 Shares of Western Alliance Bancorporation (NYSE:WAL)

Key Points

• Westwood Holdings Group Inc. reduced its stake in Western Alliance Bancorporation by 3.7%, selling 9,963 shares during the first quarter, leaving it with approximately 257,227 shares valued at $19,763,000.
• Analysts have mixed reviews on Western Alliance Bancorporation, with price targets ranging from $80.00 to $105.00 and a consensus rating of "Moderate Buy" based on 12 buy ratings and 2 hold ratings.
• The company recently announced a quarterly dividend of $0.38 per share, representing an annual yield of 1.9%, with a payout ratio of 19.97%.

Westwood Holdings Group Inc. decreased its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 257,227 shares of the financial services provider's stock after selling 9,963 shares during the period. Westwood Holdings Group Inc. owned approximately 0.23% of Western Alliance Bancorporation worth $19,763,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. MidWestOne Financial Group Inc. boosted its stake in Western Alliance Bancorporation by 0.6% in the fourth quarter. MidWestOne Financial Group Inc. now owns 26,646 shares of the financial services provider's stock valued at $2,226,000 after buying an additional 160 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Western Alliance Bancorporation by 5.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,087 shares of the financial services provider's stock valued at $258,000 after buying an additional 166 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Western Alliance Bancorporation by 2.9% during the first quarter. D.A. Davidson & CO. now owns 6,056 shares of the financial services provider's stock valued at $465,000 after purchasing an additional 169 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Western Alliance Bancorporation by 3.4% during the first quarter. Crossmark Global Holdings Inc. now owns 5,993 shares of the financial services provider's stock valued at $460,000 after purchasing an additional 197 shares in the last quarter. Finally, RiverPark Advisors LLC boosted its stake in shares of Western Alliance Bancorporation by 14.1% during the fourth quarter. RiverPark Advisors LLC now owns 2,041 shares of the financial services provider's stock valued at $171,000 after purchasing an additional 253 shares in the last quarter. Institutional investors own 79.15% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial cut their price target on Western Alliance Bancorporation from $96.00 to $93.00 and set a "buy" rating on the stock in a research note on Monday, July 21st. JPMorgan Chase & Co. lifted their price target on Western Alliance Bancorporation from $80.00 to $87.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Wells Fargo & Company cut their price target on Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Monday, July 21st. DA Davidson lifted their price target on Western Alliance Bancorporation from $90.00 to $98.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Finally, Piper Sandler lifted their price target on Western Alliance Bancorporation from $94.00 to $105.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.62.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 2,500 shares of Western Alliance Bancorporation stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $83.91, for a total value of $209,775.00. Following the completion of the sale, the insider directly owned 24,759 shares in the company, valued at approximately $2,077,527.69. The trade was a 9.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.75% of the company's stock.

Western Alliance Bancorporation Trading Up 1.7%

Shares of WAL stock opened at $78.74 on Wednesday. The company has a market cap of $8.69 billion, a P/E ratio of 10.35, a PEG ratio of 0.54 and a beta of 1.33. The stock has a 50 day simple moving average of $78.12 and a two-hundred day simple moving average of $77.98. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.86. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $2.07 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.03. The business 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 previous year, the company posted $1.75 earnings per share. Research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Thursday, August 14th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Thursday, August 14th. Western Alliance Bancorporation's payout ratio is presently 19.97%.

Western Alliance Bancorporation Profile

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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