Western Alliance Bancorporation $WAL Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. lowered its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 5.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 242,237 shares of the financial services provider’s stock after selling 14,990 shares during the period. Westwood Holdings Group Inc.’s holdings in Western Alliance Bancorporation were worth $18,890,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. lifted its holdings in Western Alliance Bancorporation by 0.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,604,755 shares of the financial services provider’s stock valued at $276,954,000 after acquiring an additional 26,995 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Western Alliance Bancorporation by 0.9% in the 2nd quarter. William Blair Investment Management LLC now owns 2,313,336 shares of the financial services provider’s stock worth $180,394,000 after purchasing an additional 20,704 shares in the last quarter. Geode Capital Management LLC lifted its stake in Western Alliance Bancorporation by 5.4% during the second quarter. Geode Capital Management LLC now owns 2,035,515 shares of the financial services provider’s stock valued at $158,755,000 after purchasing an additional 104,182 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Western Alliance Bancorporation by 3.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,971,205 shares of the financial services provider’s stock valued at $153,715,000 after purchasing an additional 62,202 shares during the last quarter. Finally, Norges Bank bought a new stake in Western Alliance Bancorporation during the second quarter worth approximately $137,289,000. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock opened at $87.54 on Monday. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 0.60 and a beta of 1.37. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $94.40. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $79.72 and its 200-day simple moving average is $81.29.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter. Western Alliance Bancorporation had a return on equity of 12.93% and a net margin of 17.14%.The firm had revenue of $718.00 million during the quarter. On average, sell-side analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Thursday, November 13th were issued a dividend of $0.42 per share. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, November 13th. Western Alliance Bancorporation’s dividend payout ratio is 20.77%.

Insider Buying and Selling

In related news, CFO Dale Gibbons acquired 4,000 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were purchased at an average price of $77.00 per share, for a total transaction of $308,000.00. Following the purchase, the chief financial officer owned 300,358 shares in the company, valued at $23,127,566. This represents a 1.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. National Bankshares set a $118.00 price target on Western Alliance Bancorporation in a report on Wednesday, September 24th. Weiss Ratings restated a “hold (c)” rating on shares of Western Alliance Bancorporation in a report on Tuesday, December 2nd. Truist Financial upped their target price on Western Alliance Bancorporation from $92.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Barclays reissued an “overweight” rating on shares of Western Alliance Bancorporation in a research note on Wednesday, October 8th. Finally, Citigroup restated a “neutral” rating on shares of Western Alliance Bancorporation in a report on Tuesday, August 26th. Thirteen equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.53.

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.