83,072 Shares in Western Alliance Bancorporation $WAL Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in Western Alliance Bancorporation (NYSE:WAL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 83,072 shares of the financial services provider’s stock, valued at approximately $6,829,000.

A number of other institutional investors have also bought and sold shares of the company. Algert Global LLC grew its holdings in Western Alliance Bancorporation by 15.1% during the 2nd quarter. Algert Global LLC now owns 336,109 shares of the financial services provider’s stock worth $27,628,000 after acquiring an additional 43,973 shares during the period. Cibc World Market Inc. acquired a new position in shares of Western Alliance Bancorporation in the 2nd quarter valued at about $2,096,000. Sanctuary Advisors LLC bought a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at about $910,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at about $174,329,000. Finally, S&G Foundation acquired a new stake in Western Alliance Bancorporation during the second quarter worth approximately $30,877,000. Institutional investors own 79.15% of the company’s stock.

Insider Activity at Western Alliance Bancorporation

In related news, CAO Ben Mucha sold 5,946 shares of the firm’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 transaction, the chief accounting officer owned 3,485 shares of the company’s stock, valued at approximately $282,285. This trade represents a 63.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.76% of the stock is currently owned by insiders.

Western Alliance Bancorporation Trading Up 0.2%

NYSE WAL opened at $78.72 on Monday. Western Alliance Bancorporation has a 52 week low of $65.82 and a 52 week high of $97.23. The business has a 50 day moving average price of $81.29 and a 200-day moving average price of $79.66. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 0.93. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 8.86, a P/E/G ratio of 0.76 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, meeting the consensus estimate 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%. Western Alliance Bancorporation’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.07 EPS. 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 was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Thursday, August 13th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 18.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Stifel Nicolaus set a $95.00 target price on Western Alliance Bancorporation in a report on Thursday, July 23rd. TD Cowen lifted their price objective on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a “hold” rating in a research note on Monday, July 27th. Mizuho set a $96.00 target price on shares of Western Alliance Bancorporation in a research report on Thursday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Western Alliance Bancorporation in a research note on Friday, August 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently 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.