Corient Private Wealth LP Makes New $2.90 Million Investment in Western Alliance Bancorporation $WAL

Corient Private Wealth LP bought a new position in Western Alliance Bancorporation (NYSE:WAL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 45,177 shares of the financial services provider’s stock, valued at approximately $2,895,000.

Other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Western Alliance Bancorporation during the second quarter worth $26,000. Clearstead Advisors LLC increased its stake in Western Alliance Bancorporation by 144.6% in the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 243 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Western Alliance Bancorporation in the fourth quarter valued at $38,000. Compound Global Advisors LLC purchased a new position in Western Alliance Bancorporation during the second quarter worth about $41,000. Finally, Leonteq Securities AG purchased a new position in Western Alliance Bancorporation during the fourth quarter worth about $44,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $81.00, for a total transaction of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares of the company’s stock, valued at $282,285. The trade was a 63.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.76% of the stock is currently owned by company insiders.

Western Alliance Bancorporation Stock Performance

Shares of NYSE:WAL opened at $77.29 on Wednesday. The firm has a market capitalization of $8.43 billion, a PE ratio of 8.70, a P/E/G ratio of 0.75 and a beta of 1.33. 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 business has a 50-day moving average of $81.21 and a two-hundred day moving average of $79.42. Western Alliance Bancorporation has a 12 month low of $65.82 and a 12 month high of $97.23.

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 for the quarter, meeting the consensus estimate of $2.36. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The business had revenue of $995.70 million for the quarter, compared to analyst estimates of $980.53 million. During the same period in the previous year, the company posted $2.07 EPS. The company’s revenue was up 17.7% compared to the same quarter last year. As a group, research analysts forecast that Western Alliance Bancorporation will post 9.16 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were issued a $0.42 dividend. The ex-dividend date was Thursday, August 13th. This represents a $1.68 annualized dividend and a yield of 2.2%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 18.92%.

Wall Street Analysts Forecast Growth

Several analysts have commented on WAL shares. DA Davidson set a $36.00 price target on Western Alliance Bancorporation in a report on Wednesday, July 22nd. Truist Financial increased their price objective on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, July 27th. TD Cowen raised their target price on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the stock a “hold” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. boosted their target price on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Finally, Stephens set a $95.00 target price on shares of Western Alliance Bancorporation and gave the company an “overweight” rating in a report on Thursday, July 23rd. 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 a consensus rating of “Moderate Buy” and a consensus 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.