Thrivent Financial for Lutherans Sells 353,270 Shares of Western Alliance Bancorporation (NYSE:WAL)

Thrivent Financial for Lutherans cut its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 13.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,341,906 shares of the financial services provider’s stock after selling 353,270 shares during the quarter. Thrivent Financial for Lutherans owned approximately 2.13% of Western Alliance Bancorporation worth $202,552,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in Western Alliance Bancorporation during the 1st quarter worth $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 bought a new position in Western Alliance Bancorporation during the 2nd quarter worth about $36,000. Finally, UMB Bank n.a. increased its position 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 valued at $37,000 after purchasing an additional 249 shares during the period. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

NYSE WAL opened at $90.38 on Friday. The company has a market cap of $9.95 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.42 and a beta of 1.44. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. The stock’s fifty day moving average price is $85.78 and its 200 day moving average price is $74.57. Western Alliance Bancorporation has a 1 year low of $47.54 and a 1 year high of $96.45.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The firm had revenue of $833.10 million during the quarter, compared to analyst estimates of $811.40 million. As a group, equities research analysts forecast that Western Alliance Bancorporation will post 7.13 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 1.68%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 22.84%.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation 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 completion of the transaction, the director now owns 4,056 shares in the company, valued at approximately $335,634. This trade represents a 42.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the completion of 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 disclosure for this sale can be found here. Company insiders own 2.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WAL shares. Wells Fargo & Company increased 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 research note on Tuesday, October 1st. Bank of America lifted their price target on Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Wedbush upped their price objective on Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Truist Financial lowered their price target on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” 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 assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

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.