Western Alliance Bancorporation (NYSE:WAL - Get Free Report) released its quarterly earnings results on Tuesday. The financial services provider reported $2.28 EPS for the quarter, topping the consensus estimate of $2.11 by $0.17, Zacks reports. Western Alliance Bancorporation had a return on equity of 12.62% and a net margin of 16.39%.
Western Alliance Bancorporation Stock Up 1.4%
Western Alliance Bancorporation stock traded up $1.06 during midday trading on Tuesday, reaching $76.46. The company's stock had a trading volume of 1,771,415 shares, compared to its average volume of 1,190,023. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10. 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 company has a market cap of $8.44 billion, a P/E ratio of 10.05, a P/E/G ratio of 0.52 and a beta of 1.35. The business has a 50-day simple moving average of $85.59 and a 200-day simple moving average of $78.61.
Western Alliance Bancorporation Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 14th were paid a $0.38 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.0%. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 19.97%.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Weiss Ratings restated a "buy (b-)" rating on shares of Western Alliance Bancorporation in a research report on Wednesday, October 8th. Truist Financial set a $92.00 price target on Western Alliance Bancorporation in a research report on Friday, October 10th. Royal Bank Of Canada increased their price objective on Western Alliance Bancorporation from $93.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, October 10th. Barclays reiterated an "overweight" rating on shares of Western Alliance Bancorporation in a research note on Wednesday, October 8th. Finally, National Bankshares set a $118.00 price objective on Western Alliance Bancorporation in a research note on Wednesday, September 24th. Thirteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.14.
Read Our Latest Stock Analysis on WAL
Insiders Place Their Bets
In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 2,500 shares of the firm'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 directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.68% of the stock is currently owned by corporate insiders.
Institutional Trading of Western Alliance Bancorporation
Hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC raised its stake in Western Alliance Bancorporation by 71.2% in the first quarter. NewEdge Advisors LLC now owns 7,815 shares of the financial services provider's stock valued at $600,000 after buying an additional 3,249 shares in the last quarter. Captrust Financial Advisors raised its stake in Western Alliance Bancorporation by 4.6% in the second quarter. Captrust Financial Advisors now owns 7,188 shares of the financial services provider's stock valued at $561,000 after buying an additional 317 shares in the last quarter. Lazard Asset Management LLC raised its stake in Western Alliance Bancorporation by 6.8% in the second quarter. Lazard Asset Management LLC now owns 7,079 shares of the financial services provider's stock valued at $551,000 after buying an additional 452 shares in the last quarter. Cetera Investment Advisers raised its stake in Western Alliance Bancorporation by 11.3% in the second quarter. Cetera Investment Advisers now owns 7,017 shares of the financial services provider's stock valued at $547,000 after buying an additional 713 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of Western Alliance Bancorporation during the second quarter worth about $481,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.
About Western Alliance Bancorporation
(
Get Free Report)
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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