Western Alliance Bancorporation (NYSE:WAL) Insider Sells $209,775.00 in Stock

Key Points

• Insider Tim R. Bruckner sold 2,500 shares of Western Alliance Bancorporation (NYSE:WAL) for a total of $209,775.00, reducing his ownership by 9.17% to 24,759 shares.
• The company reported an EPS of $2.07 for the last quarter, exceeding analysts' estimates of $2.04, with revenues of $836.21 million.
• Western Alliance Bancorporation announced a quarterly dividend of $0.38, yielding 1.85%, with a payout ratio of 19.97%.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) insider Tim R. Bruckner sold 2,500 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were 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 in the company, valued at $2,077,527.69. This trade represents a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Western Alliance Bancorporation Stock Down 0.4%

Shares of NYSE:WAL traded down $0.28 during trading on Tuesday, hitting $80.44. The company's stock had a trading volume of 636,917 shares, compared to its average volume of 1,143,506. The business has a 50 day moving average price of $77.56 and a two-hundred day moving average price of $78.24. The company has a market capitalization of $8.88 billion, a PE ratio of 10.57, a P/E/G ratio of 0.56 and a beta of 1.29. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.85. 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 released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.03. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. The company had revenue of $836.21 million during the quarter, compared to the consensus estimate of $838.58 million. During the same quarter in the prior year, the firm posted $1.75 earnings per share. As a group, research analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Thursday, May 15th were issued a $0.38 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.89%. Western Alliance Bancorporation's payout ratio is 19.97%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on WAL shares. Wells Fargo & Company lowered their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an "equal weight" rating on the stock in a report on Monday, July 21st. Wall Street Zen upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Jefferies Financial Group began coverage on Western Alliance Bancorporation in a report on Wednesday, May 21st. They issued a "buy" rating and a $95.00 price objective on the stock. Royal Bank Of Canada dropped their price target on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Finally, Piper Sandler increased their price target on Western Alliance Bancorporation from $94.00 to $105.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $96.62.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WAL. HWG Holdings LP purchased a new position in Western Alliance Bancorporation during the first quarter worth about $25,000. Tsfg LLC acquired a new stake in Western Alliance Bancorporation during the first quarter worth approximately $33,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Western Alliance Bancorporation in the 1st quarter valued at $58,000. National Bank of Canada FI boosted its holdings in shares of Western Alliance Bancorporation by 22.7% in the 1st quarter. National Bank of Canada FI now owns 763 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 141 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Western Alliance Bancorporation by 91.5% in the 1st quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 482 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

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.