Inspire Investing LLC Reduces Stake in Western Alliance Bancorporation (NYSE:WAL)

Inspire Investing LLC reduced its position in Western Alliance Bancorporation (NYSE:WAL) by 21.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,821 shares of the financial services provider’s stock after selling 2,732 shares during the period. Inspire Investing LLC’s holdings in Western Alliance Bancorporation were worth $617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its holdings in Western Alliance Bancorporation by 20.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,166 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 1,027 shares during the period. Brown Advisory Inc. bought a new position in Western Alliance Bancorporation in the 4th quarter worth $988,000. Norges Bank bought a new position in Western Alliance Bancorporation in the 4th quarter worth $67,758,000. Corient Private Wealth LLC raised its holdings in Western Alliance Bancorporation by 6.9% in the 4th quarter. Corient Private Wealth LLC now owns 100,011 shares of the financial services provider’s stock worth $6,580,000 after purchasing an additional 6,459 shares during the period. Finally, Aigen Investment Management LP bought a new position in Western Alliance Bancorporation in the 4th quarter worth $497,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Bank of America raised their target price on Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Royal Bank of Canada raised their price target on Western Alliance Bancorporation from $78.00 to $87.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. raised their price target on Western Alliance Bancorporation from $80.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Jefferies Financial Group raised their price target on Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Finally, Truist Financial raised their price target on Western Alliance Bancorporation from $88.00 to $100.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.07.

Insider Buying and Selling

In related 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 value of $247,919.00. Following the completion of the transaction, the director now owns 4,056 shares in the company, valued at $335,634. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Robert P. Latta sold 2,996 shares of the company’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 transaction, the director now owns 4,056 shares of the company’s stock, valued at $335,634. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $75.95, for a total value of $160,710.20. Following the transaction, the chief accounting officer now directly owns 3,520 shares in the company, valued at approximately $267,344. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,265 shares of company stock worth $1,700,391. Corporate insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Trading Down 0.8 %

Shares of WAL stock opened at $87.69 on Friday. Western Alliance Bancorporation has a 12-month low of $38.81 and a 12-month high of $88.92. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock’s 50-day moving average price is $78.38 and its 200-day moving average price is $66.96. The stock has a market capitalization of $9.66 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.56 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.71 by $0.04. The company had revenue of $771.80 million during the quarter, compared to analyst estimates of $737.97 million. Western Alliance Bancorporation had a return on equity of 13.98% and a net margin of 15.54%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the business posted $1.96 earnings per share. Equities research analysts predict that Western Alliance Bancorporation will post 7.4 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.37 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.48 annualized dividend and a yield of 1.69%. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%.

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.