Barbara Kennedy Sells 11,083 Shares of Western Alliance Bancorporation (NYSE:WAL) Stock

Western Alliance Bancorporation (NYSE:WAL) 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 transaction of $904,261.97. Following the completion of the sale, the insider now directly owns 7,977 shares in the company, valued at $650,843.43. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Western Alliance Bancorporation Stock Down 0.3 %

WAL opened at $80.38 on Friday. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.88. The firm’s fifty day moving average is $71.85 and its 200 day moving average is $64.32. Western Alliance Bancorporation has a fifty-two week low of $38.81 and a fifty-two week high of $83.23.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.75 EPS for the quarter, beating 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 business had revenue of $771.80 million for the quarter, compared to the consensus estimate of $737.97 million. During the same period in the previous year, the business earned $1.96 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts forecast that Western Alliance Bancorporation will post 7.4 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.57%.

Analyst Ratings Changes

WAL has been the topic of a number of recent research reports. Barclays upped their price objective on shares of Western Alliance Bancorporation from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on Western Alliance Bancorporation from $62.00 to $83.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. StockNews.com cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. upped their price target on shares of Western Alliance Bancorporation from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Piper Sandler raised their price objective on shares of Western Alliance Bancorporation from $76.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. One research 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’s stock. According to MarketBeat, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and an average price target of $84.27.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several institutional investors and hedge funds have recently modified their holdings of WAL. Russell Investments Group Ltd. increased its position in shares of Western Alliance Bancorporation by 0.6% during the 1st quarter. Russell Investments Group Ltd. now owns 29,768 shares of the financial services provider’s stock valued at $1,911,000 after purchasing an additional 164 shares during the last quarter. GAMMA Investing LLC increased its position in Western Alliance Bancorporation by 57.4% during the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 183 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Western Alliance Bancorporation by 26.5% in the second quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 244 shares during the period. Riverwater Partners LLC lifted its holdings in shares of Western Alliance Bancorporation by 1.0% in the 1st quarter. Riverwater Partners LLC now owns 29,467 shares of the financial services provider’s stock worth $1,891,000 after acquiring an additional 287 shares during the last quarter. Finally, Madison Asset Management LLC boosted its stake in shares of Western Alliance Bancorporation by 0.4% during the 4th quarter. Madison Asset Management LLC now owns 75,371 shares of the financial services provider’s stock worth $4,959,000 after purchasing an additional 297 shares during the period. Institutional investors own 79.15% of the company’s stock.

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.