Stanley Capital Management LLC Invests $15.78 Million in Western Alliance Bancorporation $WAL

Stanley Capital Management LLC acquired a new stake in Western Alliance Bancorporation (NYSE:WAL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 192,000 shares of the financial services provider’s stock, valued at approximately $15,782,000. Western Alliance Bancorporation accounts for 2.1% of Stanley Capital Management LLC’s investment portfolio, making the stock its 22nd largest holding.

A number of other institutional investors and hedge funds have also modified their holdings of WAL. Quadrant Capital Group LLC raised its holdings in Western Alliance Bancorporation by 1.9% during the fourth quarter. Quadrant Capital Group LLC now owns 6,008 shares of the financial services provider’s stock worth $505,000 after purchasing an additional 113 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in Western Alliance Bancorporation by 4.2% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,342 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 134 shares during the last quarter. Truist Financial Corp grew its holdings in Western Alliance Bancorporation by 5.2% in the fourth quarter. Truist Financial Corp now owns 3,102 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 152 shares during the last quarter. Allworth Financial LP increased its position in shares of Western Alliance Bancorporation by 39.3% in the fourth quarter. Allworth Financial LP now owns 557 shares of the financial services provider’s stock valued at $47,000 after buying an additional 157 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its position in shares of Western Alliance Bancorporation by 2.4% in the fourth quarter. Arkadios Wealth Advisors now owns 8,134 shares of the financial services provider’s stock valued at $684,000 after buying an additional 187 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

NYSE:WAL opened at $79.73 on Wednesday. Western Alliance Bancorporation has a 12-month low of $65.82 and a 12-month high of $97.23. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 0.76 and a beta of 1.34. The company’s 50-day moving average is $81.31 and its two-hundred day moving average is $79.98. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.93.

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

In related news, CAO Ben Mucha sold 5,946 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $282,285. This trade represents a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.76% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

WAL has been the topic of several recent research reports. Piper Sandler boosted their price objective on shares of Western Alliance Bancorporation from $92.00 to $97.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. TD Cowen lifted their price objective 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Western Alliance Bancorporation in a research note on Friday. Finally, Wells Fargo & Company increased their target price on Western Alliance Bancorporation from $79.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.