ORG Wealth Partners LLC Takes Position in Western Alliance Bancorporation (NYSE:WAL)

ORG Wealth Partners LLC acquired a new position in shares of Western Alliance Bancorporation (NYSE:WAL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 376 shares of the financial services provider’s stock, valued at approximately $33,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Western Alliance Bancorporation during the first quarter worth approximately $27,000. UMB Bank n.a. raised its stake 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 last quarter. GAMMA Investing LLC boosted its holdings in Western Alliance Bancorporation by 57.4% in the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 183 shares during the period. ORG Partners LLC acquired a new stake in Western Alliance Bancorporation in the 2nd quarter worth $36,000. Finally, Chilton Capital Management LLC bought a new position in shares of Western Alliance Bancorporation during the 2nd quarter worth about $54,000. Institutional investors own 79.15% of the company’s stock.

Insider Activity

In related news, insider Stephen Russell Curley sold 5,070 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the transaction, the insider now owns 36,718 shares in the company, valued at $2,806,356.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $75.95, for a total transaction of $160,710.20. Following the completion of the sale, the chief accounting officer now owns 3,520 shares in the company, valued at $267,344. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Russell Curley sold 5,070 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total transaction of $387,500.10. Following the completion of the transaction, the insider now owns 36,718 shares in the company, valued at $2,806,356.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,265 shares of company stock valued at $1,700,391 over the last three months. 2.75% of the stock is owned by insiders.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $90.88 on Wednesday. The firm has a 50 day moving average of $81.58 and a 200-day moving average of $70.04. Western Alliance Bancorporation has a 1 year low of $38.81 and a 1 year high of $92.73. The stock has a market capitalization of $10.01 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 1.29 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 announced its 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. Western Alliance Bancorporation had a return on equity of 13.98% and a net margin of 15.54%. The company had revenue of $771.80 million for the quarter, compared to analysts’ expectations of $737.97 million. During the same quarter in the prior year, the business earned $1.96 earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Western Alliance Bancorporation will post 7.42 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.37 per share. The ex-dividend date was Friday, August 16th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.63%. Western Alliance Bancorporation’s payout ratio is 21.57%.

Analysts Set New Price Targets

WAL has been the topic of a number of recent research reports. StockNews.com downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Barclays boosted their price objective on Western Alliance Bancorporation from $86.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Royal Bank of Canada raised their target price on Western Alliance Bancorporation from $78.00 to $87.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and boosted their price target for the company from $83.00 to $101.00 in a report on Monday, October 7th. Finally, Wedbush raised their price objective on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.53.

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.