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 Western Alliance Bancorporation 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 of the company's stock, valued at approximately $2,077,527.69. This represents a 9.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock traded down $1.12 during trading hours on Friday, reaching $82.10. 1,051,743 shares of the company's stock were exchanged, compared to its average volume of 1,166,552. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10. The stock has a market capitalization of $9.06 billion, a P/E ratio of 10.93, a P/E/G ratio of 0.58 and a beta of 1.29. The business has a fifty day moving average price of $77.32 and a 200-day moving average price of $78.24. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 0.95.

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. Analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were paid 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 1.85%. Western Alliance Bancorporation's payout ratio is 19.97%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. HWG Holdings LP bought a new stake in Western Alliance Bancorporation in the first quarter valued at $25,000. Tsfg LLC bought a new stake in Western Alliance Bancorporation in the first quarter valued at $33,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Western Alliance Bancorporation in the first quarter valued at $58,000. National Bank of Canada FI grew its position in Western Alliance Bancorporation by 22.7% in the first quarter. National Bank of Canada FI now owns 763 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 141 shares during the period. Finally, UMB Bank n.a. grew its position in Western Alliance Bancorporation by 91.5% in the first quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider's stock valued at $78,000 after acquiring an additional 482 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on WAL. Royal Bank Of Canada reduced their price target on Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Wall Street Zen raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Barclays upped their target price on Western Alliance Bancorporation from $97.00 to $100.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Stephens reaffirmed an "overweight" rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. upped their target price on Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Western Alliance Bancorporation has a consensus rating of "Moderate Buy" and an average target price of $96.62.

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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