XTX Topco Ltd Makes New Investment in Western Alliance Bancorporation (NYSE:WAL)

Key Points

• XTX Topco Ltd has made a new investment in Western Alliance Bancorporation (NYSE: WAL), acquiring 9,245 shares valued at approximately $710,000.
• Western Alliance Bancorporation reported $2.07 EPS for the latest quarter, exceeding analysts' estimates, with revenue of $836.21 million.
• The company declared a quarterly dividend of $0.38, representing an annualized yield of 2.0%, with a payout ratio of 19.97%.

XTX Topco Ltd acquired a new position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,245 shares of the financial services provider's stock, valued at approximately $710,000.

A number of other institutional investors have also recently bought and sold shares of WAL. JPMorgan Chase & Co. boosted its position in Western Alliance Bancorporation by 33.3% during the 4th quarter. JPMorgan Chase & Co. now owns 254,902 shares of the financial services provider's stock worth $21,295,000 after acquiring an additional 63,714 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Western Alliance Bancorporation by 14.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 10,965 shares of the financial services provider's stock worth $916,000 after acquiring an additional 1,393 shares during the period. Alliancebernstein L.P. boosted its position in Western Alliance Bancorporation by 12.2% during the 4th quarter. Alliancebernstein L.P. now owns 215,649 shares of the financial services provider's stock worth $18,015,000 after acquiring an additional 23,374 shares during the period. Wells Fargo & Company MN raised its stake in shares of Western Alliance Bancorporation by 15.8% during the 4th quarter. Wells Fargo & Company MN now owns 35,217 shares of the financial services provider's stock worth $2,942,000 after purchasing an additional 4,797 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Western Alliance Bancorporation during the 4th quarter worth about $434,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL opened at $77.47 on Tuesday. The business has a fifty day simple moving average of $78.03 and a 200 day simple moving average of $77.97. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 0.53 and a beta of 1.33. Western Alliance Bancorporation has a one year low of $57.05 and a one year 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 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.03. The business had revenue of $836.21 million during the quarter, compared to analyst estimates 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 prior year, the company posted $1.75 earnings per share. Sell-side analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, August 14th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.52 annualized dividend and a yield of 2.0%. Western Alliance Bancorporation's payout ratio is currently 19.97%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WAL. Stephens reaffirmed an "overweight" rating and set a $92.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Jefferies Financial Group began coverage on Western Alliance Bancorporation in a research note on Wednesday, May 21st. They set a "buy" rating and a $95.00 price target for the company. Citigroup raised their price target on Western Alliance Bancorporation from $91.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Piper Sandler raised their price target on Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Finally, Wall Street Zen raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and a consensus target price of $96.62.

Insider Buying and Selling

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 value of $209,775.00. Following the sale, the insider owned 24,759 shares of the company's stock, valued at $2,077,527.69. The trade was a 9.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.68% of the stock is currently owned by corporate insiders.

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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