Natixis Advisors LLC Acquires 44,106 Shares of Western Alliance Bancorporation (NYSE:WAL)

Natixis Advisors LLC boosted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 15.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 335,496 shares of the financial services provider’s stock after acquiring an additional 44,106 shares during the quarter. Natixis Advisors LLC owned 0.30% of Western Alliance Bancorporation worth $29,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in Western Alliance Bancorporation in the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new position in Western Alliance Bancorporation in the 3rd quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC bought a new position in Western Alliance Bancorporation in the 1st quarter valued at approximately $27,000. UMB Bank n.a. lifted its position in Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 249 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 187 shares in the last quarter. 79.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WAL. Barclays increased their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Stephens reissued an “overweight” rating and set a $102.00 price target on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Wells Fargo & Company increased their price objective on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Piper Sandler cut their target price on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.73.

Insider Buying and Selling

In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $81.59, for a total value of $904,261.97. Following the sale, the insider now owns 7,977 shares in the company, valued at $650,843.43. The trade was a 58.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the sale, the director now owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 42.48 % decrease in their position. The disclosure for this sale can be found here. 2.75% of the stock is currently owned by insiders.

Western Alliance Bancorporation Trading Down 1.6 %

Shares of Western Alliance Bancorporation stock opened at $90.38 on Monday. The company has a market capitalization of $9.95 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.42 and a beta of 1.44. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The company has a fifty day moving average of $85.78 and a 200 day moving average of $74.68. Western Alliance Bancorporation has a fifty-two week low of $47.54 and a fifty-two week high of $96.45.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The firm had revenue of $833.10 million during the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. On average, sell-side analysts anticipate that Western Alliance Bancorporation will post 7.13 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.38 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.52 annualized dividend and a yield of 1.68%. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio is currently 22.84%.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.