Pallas Capital Advisors LLC Takes $741,000 Position in Western Alliance Bancorporation $WAL

Pallas Capital Advisors LLC bought a new stake in Western Alliance Bancorporation (NYSE:WAL) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,016 shares of the financial services provider’s stock, valued at approximately $741,000.

Several other large investors have also recently added to or reduced their stakes in WAL. Quadrant Capital Group LLC boosted its holdings in shares of 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 valued at $505,000 after acquiring an additional 113 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in shares of Western Alliance Bancorporation by 4.2% during 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 in the last quarter. Truist Financial Corp lifted its stake in shares of Western Alliance Bancorporation by 5.2% in the 4th quarter. Truist Financial Corp now owns 3,102 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 152 shares during the period. Allworth Financial LP lifted its position in Western Alliance Bancorporation by 39.3% in the fourth quarter. Allworth Financial LP now owns 557 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 157 shares during the period. Finally, Arkadios Wealth Advisors lifted its position in 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 worth $684,000 after purchasing an additional 187 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WAL shares. DA Davidson set a $36.00 price target on Western Alliance Bancorporation in a research report on Wednesday, July 22nd. Mizuho set a $96.00 target price on Western Alliance Bancorporation in a report on Thursday, July 23rd. Wells Fargo & Company boosted their price target on shares of Western Alliance Bancorporation from $79.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. UBS Group upped their price target on shares of Western Alliance Bancorporation from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Finally, Stephens set a $95.00 price objective on shares of Western Alliance Bancorporation and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $95.47.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL opened at $80.75 on Wednesday. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23. The stock has a fifty day moving average of $81.58 and a 200-day moving average of $80.36. The company has a market capitalization of $8.81 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.79 and a beta of 1.34. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.81 and a current ratio of 0.86.

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

Western Alliance Bancorporation Dividend Announcement

The business 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 $0.42 dividend. The ex-dividend date is Thursday, August 13th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 18.92%.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $81.00, for a total transaction of $481,626.00. Following the sale, the chief accounting officer owned 3,485 shares in the company, valued at approximately $282,285. The trade was a 63.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.76% of the company’s stock.

Western Alliance Bancorporation 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.