6,350 Shares in Western Alliance Bancorporation $WAL Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI purchased a new position in Western Alliance Bancorporation (NYSE:WAL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,350 shares of the financial services provider’s stock, valued at approximately $522,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its position in shares of 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 worth $600,000 after acquiring an additional 3,249 shares during the last quarter. Jones Financial Companies Lllp increased its position in Western Alliance Bancorporation by 513.5% during the first quarter. Jones Financial Companies Lllp now owns 1,730 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 1,448 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Western Alliance Bancorporation by 24.0% during the first quarter. Goldman Sachs Group Inc. now owns 111,883 shares of the financial services provider’s stock worth $8,596,000 after purchasing an additional 21,642 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Western Alliance Bancorporation by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,529 shares of the financial services provider’s stock worth $26,701,000 after purchasing an additional 35,276 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in shares of Western Alliance Bancorporation by 11.3% in the 2nd quarter. Cetera Investment Advisers now owns 7,017 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 713 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Insider Transactions at Western Alliance Bancorporation

In related news, CAO Ben Mucha sold 5,946 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $81.00, for a total value of $481,626.00. Following the completion of the sale, the chief accounting officer directly owned 3,485 shares in the company, valued at approximately $282,285. This represents a 63.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.76% of the company’s stock.

Western Alliance Bancorporation Price Performance

WAL opened at $80.17 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 0.93. Western Alliance Bancorporation has a 52-week low of $65.82 and a 52-week high of $97.23. The company has a 50 day moving average of $81.55 and a two-hundred day moving average of $80.29. The company has a market cap of $8.75 billion, a P/E ratio of 9.03, a P/E/G ratio of 0.78 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.36. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.40%. The company had revenue of $995.70 million during the quarter, compared to analyst estimates of $980.53 million. During the same quarter in the prior year, the business earned $2.07 earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, analysts expect that Western Alliance Bancorporation will post 9.16 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, August 13th. Western Alliance Bancorporation’s dividend payout ratio is 18.92%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Western Alliance Bancorporation from $79.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. TD Cowen increased their target price on Western Alliance Bancorporation from $89.00 to $90.00 and gave the stock a “hold” rating in a research report on Monday, July 27th. Citigroup lifted their target price on Western Alliance Bancorporation from $96.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, June 25th. DA Davidson set a $36.00 price target on Western Alliance Bancorporation in a research report on Wednesday, July 22nd. Finally, Stephens set a $95.00 price target on Western Alliance Bancorporation and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and an average target price of $95.47.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.