58,955 Shares in Western Alliance Bancorporation (NYSE:WAL) Purchased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC bought a new position in shares of Western Alliance Bancorporation (NYSE:WAL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 58,955 shares of the financial services provider’s stock, valued at approximately $5,099,000. Mutual of America Capital Management LLC owned approximately 0.05% of Western Alliance Bancorporation as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of WAL. Vanguard Group Inc. grew its stake in shares of Western Alliance Bancorporation by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock valued at $670,170,000 after buying an additional 395,101 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Western Alliance Bancorporation by 16.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider’s stock worth $328,165,000 after acquiring an additional 717,242 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Western Alliance Bancorporation by 20.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock worth $233,832,000 after acquiring an additional 636,577 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Western Alliance Bancorporation by 0.7% during the 2nd quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider’s stock worth $176,764,000 after purchasing an additional 20,876 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in Western Alliance Bancorporation by 10.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,802,505 shares of the financial services provider’s stock valued at $155,899,000 after purchasing an additional 169,244 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of the business’s stock in a transaction that occurred on 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 approximately $650,843.43. The trade was a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert P. Latta sold 2,996 shares of the firm’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 in the company, valued at approximately $335,634. This trade represents a 42.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL opened at $89.12 on Thursday. The stock’s 50-day simple moving average is $86.31 and its 200-day simple moving average is $75.18. The firm has a market capitalization of $9.81 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.40 and a beta of 1.44. Western Alliance Bancorporation has a fifty-two week low of $47.60 and a fifty-two week high of $96.45. 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 (NYSE:WAL) last released 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 return on equity of 13.16% and a net margin of 14.66%. The company had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. As a group, equities research analysts forecast that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.71%. The ex-dividend date is Friday, November 15th. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio is currently 23.46%.

Analyst Upgrades and Downgrades

WAL has been the subject of a number of research reports. Truist Financial dropped their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and boosted their price target for the stock from $83.00 to $101.00 in a research note on Monday, October 7th. JPMorgan Chase & Co. lowered their price objective on shares of 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. Wells Fargo & Company upped their target price on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.73.

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.