Western Alliance Bancorporation (NYSE:WAL) Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC grew its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 575.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,031 shares of the financial services provider’s stock after purchasing an additional 2,582 shares during the quarter. Venturi Wealth Management LLC’s holdings in Western Alliance Bancorporation were worth $262,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in Western Alliance Bancorporation in the 1st quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new position in shares of Western Alliance Bancorporation during the third quarter valued at $31,000. ORG Wealth Partners LLC acquired a new position in shares of Western Alliance Bancorporation during the third quarter valued at $33,000. ORG Partners LLC bought a new stake in shares of Western Alliance Bancorporation during the second quarter valued at about $36,000. Finally, UMB Bank n.a. lifted its holdings in Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 249 shares during the period. Institutional investors own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

WAL has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and upped their target price for the stock from $83.00 to $101.00 in a research report on Monday, October 7th. Stephens reiterated an “overweight” rating and set a $102.00 price target on shares of Western Alliance Bancorporation in a research report on Friday, October 18th. StockNews.com lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. decreased their target price on Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. One 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.73.

Western Alliance Bancorporation Trading Down 0.2 %

NYSE WAL opened at $92.83 on Thursday. The firm’s 50 day moving average price is $85.04 and its two-hundred day moving average price is $73.97. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. Western Alliance Bancorporation has a twelve month low of $46.52 and a twelve month high of $96.45. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 1.46 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results 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). The business had revenue of $833.10 million for the quarter, compared to analysts’ expectations of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. Equities analysts anticipate that Western Alliance Bancorporation will post 7.13 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.38 per share. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 22.84%.

Insider Activity 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 on Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the sale, the director now owns 4,056 shares of the company’s stock, valued at $335,634. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Western Alliance Bancorporation news, 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 transaction, the insider now directly owns 7,977 shares of the company’s stock, valued at $650,843.43. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation 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 sale, the director now owns 4,056 shares of the company’s stock, valued at approximately $335,634. This represents a 0.00 % 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 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.