Destiny Capital Corp CO Sells 421 Shares of Western Alliance Bancorporation (NYSE:WAL)

Destiny Capital Corp CO trimmed its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,816 shares of the financial services provider’s stock after selling 421 shares during the quarter. Destiny Capital Corp CO’s holdings in Western Alliance Bancorporation were worth $397,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in Western Alliance Bancorporation during the 1st quarter valued at $27,000. V Square Quantitative Management LLC purchased a new position in shares of Western Alliance Bancorporation during the third quarter valued at $31,000. ORG Wealth Partners LLC bought a new stake in shares of Western Alliance Bancorporation in the third quarter valued at about $33,000. ORG Partners LLC purchased a new stake in Western Alliance Bancorporation in the second quarter worth about $36,000. Finally, UMB Bank n.a. grew its holdings in Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 249 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Western Alliance Bancorporation

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

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL opened at $90.38 on Friday. 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 firm has a fifty day moving average of $85.78 and a 200 day moving average of $74.45. The firm has a market cap of $9.95 billion, a PE ratio of 13.95, a PEG ratio of 1.45 and a beta of 1.44. Western Alliance Bancorporation has a one year low of $47.54 and a one year high of $96.45.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly 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 company had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. As a group, research analysts predict that Western Alliance Bancorporation will post 7.13 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

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

Analyst Ratings Changes

Several brokerages recently issued reports on WAL. Wells Fargo & Company lifted their price objective on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Wedbush upped their price target on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Royal Bank of Canada set a $99.00 price objective on Western Alliance Bancorporation and gave the stock an “outperform” rating in a research note on Friday, October 18th. StockNews.com downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.73.

About Western Alliance Bancorporation

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.