Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC decreased its holdings in Western Alliance Bancorporation (NYSE:WAL) by 5.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 87,692 shares of the financial services provider’s stock after selling 5,359 shares during the period. Thompson Siegel & Walmsley LLC owned approximately 0.08% of Western Alliance Bancorporation worth $5,509,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WAL. Vanguard Group Inc. raised its stake in shares of Western Alliance Bancorporation by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock valued at $670,170,000 after acquiring an additional 395,101 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter worth about $917,000. SG Americas Securities LLC boosted its position in shares of Western Alliance Bancorporation by 1,706.9% in the first quarter. SG Americas Securities LLC now owns 30,898 shares of the financial services provider’s stock worth $1,983,000 after buying an additional 29,188 shares during the period. M&G Plc grew its stake in shares of Western Alliance Bancorporation by 12.4% in the second quarter. M&G Plc now owns 133,670 shares of the financial services provider’s stock valued at $8,421,000 after buying an additional 14,734 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Western Alliance Bancorporation by 166.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 32,349 shares of the financial services provider’s stock valued at $2,128,000 after buying an additional 20,198 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 4,056 shares in the company, valued at approximately $335,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $75.95, for a total value of $160,710.20. Following the completion of the transaction, the chief accounting officer now owns 3,520 shares in the company, valued at approximately $267,344. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the sale, the director now owns 4,056 shares in the company, valued at $335,634. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,265 shares of company stock valued at $1,700,391. 2.75% of the stock is currently owned by insiders.

Western Alliance Bancorporation Stock Performance

WAL stock opened at $81.91 on Monday. The stock’s 50 day simple moving average is $76.28 and its 200 day simple moving average is $66.09. Western Alliance Bancorporation has a 12-month low of $38.81 and a 12-month high of $85.96. The firm has a market cap of $9.02 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.49 and a beta of 1.44. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 13.98%. The company had revenue of $771.80 million for the quarter, compared to analysts’ expectations of $737.97 million. During the same period in the prior year, the company earned $1.96 earnings per share. The firm’s revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts predict that Western Alliance Bancorporation will post 7.4 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.48 dividend on an annualized basis and a yield of 1.81%. Western Alliance Bancorporation’s payout ratio is currently 21.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Piper Sandler upped their price target on Western Alliance Bancorporation from $76.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price objective on shares of Western Alliance Bancorporation from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft raised their target price on Western Alliance Bancorporation from $62.00 to $83.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group lifted their target price on Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.27.

Western Alliance Bancorporation Company 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.