William Blair Investment Management LLC Acquires 20,704 Shares of Western Alliance Bancorporation $WAL

Key Points

• William Blair Investment Management LLC increased its holdings in Western Alliance Bancorporation by 0.9%, acquiring an additional 20,704 shares, bringing its total ownership to 2,313,336 shares valued at approximately $180 million.
• Several institutional investors have also adjusted their stakes in WAL, with Invesco Ltd. boosting their position by 5.9% and T. Rowe Price increasing theirs by 0.8% in the first quarter.
• Analysts have a consensus rating of "Moderate Buy" for Western Alliance Bancorporation, with a price target averaging around $103.14, reflecting optimism in the stock's performance.

William Blair Investment Management LLC lifted its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,313,336 shares of the financial services provider's stock after acquiring an additional 20,704 shares during the period. William Blair Investment Management LLC owned 2.10% of Western Alliance Bancorporation worth $180,394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WAL. Invesco Ltd. boosted its stake in Western Alliance Bancorporation by 5.9% in the 1st quarter. Invesco Ltd. now owns 6,076,021 shares of the financial services provider's stock worth $466,821,000 after purchasing an additional 339,758 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Western Alliance Bancorporation by 0.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,604,755 shares of the financial services provider's stock worth $276,954,000 after buying an additional 26,995 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Western Alliance Bancorporation by 3.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,971,205 shares of the financial services provider's stock worth $153,715,000 after acquiring an additional 62,202 shares during the last quarter. Northern Trust Corp grew its stake in Western Alliance Bancorporation by 0.3% during the first quarter. Northern Trust Corp now owns 914,816 shares of the financial services provider's stock valued at $70,285,000 after acquiring an additional 2,762 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in Western Alliance Bancorporation by 23.4% during the first quarter. Voya Investment Management LLC now owns 676,575 shares of the financial services provider's stock valued at $51,981,000 after acquiring an additional 128,362 shares in the last quarter. Institutional investors own 79.15% of the company's stock.

Wall Street Analyst Weigh In

WAL has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Western Alliance Bancorporation from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, October 1st. Industrial Alliance Securities set a $112.00 price target on Western Alliance Bancorporation in a research note on Wednesday, October 8th. Cowen began coverage on Western Alliance Bancorporation in a research note on Wednesday, September 24th. They issued a "buy" rating on the stock. National Bankshares set a $118.00 price objective on Western Alliance Bancorporation in a report on Wednesday, September 24th. Finally, Piper Sandler raised their target price on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.14.

Insider Activity

In related news, insider Tim R. Bruckner sold 2,500 shares of the business's stock in a transaction on 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 transaction, the insider owned 24,759 shares in the company, valued at $2,077,527.69. The trade was a 9.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.68% of the company's stock.

Western Alliance Bancorporation Trading Up 3.3%

WAL stock opened at $72.63 on Friday. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $98.10. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 0.50 and a beta of 1.35. 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 firm's fifty day simple moving average is $85.64 and its two-hundred day simple moving average is $78.42.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $1.91 EPS for the quarter. The firm had revenue of $718.00 million during the quarter. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. As a group, 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 declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Thursday, August 14th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, August 14th. Western Alliance Bancorporation's dividend payout ratio is presently 19.97%.

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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