S&G Foundation Takes $30.88 Million Position in Western Alliance Bancorporation $WAL

S&G Foundation bought a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 375,638 shares of the financial services provider’s stock, valued at approximately $30,877,000. Western Alliance Bancorporation makes up approximately 1.4% of S&G Foundation’s investment portfolio, making the stock its 10th largest position.

Other hedge funds also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Western Alliance Bancorporation in the 2nd quarter worth $26,000. Clearstead Advisors LLC boosted its stake in shares of Western Alliance Bancorporation by 144.6% in the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 243 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth about $38,000. Assetmark Inc. raised its stake in Western Alliance Bancorporation by 86.0% during the 1st quarter. Assetmark Inc. now owns 560 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 259 shares during the period. Finally, Compound Global Advisors LLC purchased a new position in Western Alliance Bancorporation in the 2nd quarter worth approximately $41,000. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Up 0.8%

Shares of WAL opened at $79.78 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.86 and a quick ratio of 0.81. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 0.77 and a beta of 1.34. Western Alliance Bancorporation has a 1 year low of $65.82 and a 1 year high of $97.23. The business’s 50 day simple moving average is $81.41 and its 200-day simple moving average is $80.22.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.36. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.40%. The firm had revenue of $995.70 million during the quarter, compared to analyst estimates of $980.53 million. During the same period last year, the firm posted $2.07 earnings per share. Western Alliance Bancorporation’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, equities analysts expect that Western Alliance Bancorporation will post 9.16 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

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

Insider Buying and Selling at Western Alliance Bancorporation

In other news, CAO Ben Mucha sold 5,946 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $81.00, for a total value of $481,626.00. Following the sale, the chief accounting officer directly owned 3,485 shares in the company, valued at $282,285. The trade was a 63.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.76% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on WAL. Truist Financial increased their price objective on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “buy” rating in a report on Monday, July 27th. Citigroup boosted their target price on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Stifel Nicolaus set a $95.00 target price on shares of Western Alliance Bancorporation in a research report on Thursday, July 23rd. Wells Fargo & Company raised their target price 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. Finally, DA Davidson set a $36.00 price target on shares of Western Alliance Bancorporation in a report on Wednesday, July 22nd. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.47.

About Western Alliance Bancorporation

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.