Westwood Holdings Group Inc. Lowers Holdings in Western Alliance Bancorporation $WAL

Westwood Holdings Group Inc. reduced its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 242,237 shares of the financial services provider’s stock after selling 14,990 shares during the quarter. Westwood Holdings Group Inc. owned 0.22% of Western Alliance Bancorporation worth $18,890,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hantz Financial Services Inc. lifted its stake in shares of Western Alliance Bancorporation by 995.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 526 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 478 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Western Alliance Bancorporation in the first quarter valued at $58,000. National Bank of Canada FI increased its holdings 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 buying an additional 141 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Western Alliance Bancorporation by 1,614.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,269 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 1,195 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Western Alliance Bancorporation by 14.8% during the 2nd quarter. Signaturefd LLC now owns 1,654 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 213 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Insider Buying and Selling at Western Alliance Bancorporation

In related news, CFO Dale Gibbons purchased 4,000 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was acquired at an average cost of $77.00 per share, for a total transaction of $308,000.00. Following the completion of the transaction, the chief financial officer directly owned 300,358 shares of the company’s stock, valued at approximately $23,127,566. This trade represents a 1.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on WAL. Royal Bank Of Canada lifted their price target 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. Cowen began coverage on Western Alliance Bancorporation in a research report on Wednesday, September 24th. They issued a “buy” rating for the company. Truist Financial upped their target price on Western Alliance Bancorporation from $92.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. National Bankshares set a $118.00 price target on shares of Western Alliance Bancorporation in a research note on Wednesday, September 24th. Finally, Wall Street Zen upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.53.

Western Alliance Bancorporation Trading Down 0.0%

Shares of WAL stock opened at $78.17 on Friday. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $98.10. The firm has a market capitalization of $8.60 billion, a P/E ratio of 9.66, a PEG ratio of 0.52 and a beta of 1.45. The stock’s fifty day moving average is $82.48 and its two-hundred day moving average is $80.23. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 0.83.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Wednesday, February 14th. The financial services provider reported $1.91 EPS for the quarter. The business had revenue of $718.00 million during the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 12.93%. Research analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Thursday, November 13th will be paid a $0.42 dividend. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio is 20.77%.

Western Alliance Bancorporation Company 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.