Chilton Capital Management LLC Makes New Investment in Western Alliance Bancorporation (NYSE:WAL)

Chilton Capital Management LLC acquired a new stake in Western Alliance Bancorporation (NYSE:WAL) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 861 shares of the financial services provider’s stock, valued at approximately $54,000.

Several other large investors also recently modified their holdings of WAL. Allspring Global Investments Holdings LLC bought a new stake in Western Alliance Bancorporation in the first quarter worth approximately $27,000. GAMMA Investing LLC grew its holdings in Western Alliance Bancorporation by 57.4% in the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 183 shares during the period. ORG Partners LLC acquired a new position in shares of Western Alliance Bancorporation during the second quarter valued at about $36,000. Versant Capital Management Inc boosted its position in shares of Western Alliance Bancorporation by 26.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 244 shares in the last quarter. Finally, Plato Investment Management Ltd grew its stake in shares of Western Alliance Bancorporation by 246.1% in the 1st quarter. Plato Investment Management Ltd now owns 1,883 shares of the financial services provider’s stock valued at $121,000 after buying an additional 1,339 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on WAL shares. Barclays increased their price target on Western Alliance Bancorporation from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Wells Fargo & Company lifted their price target on shares of Western Alliance Bancorporation from $68.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Bank of America upped their price objective on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Truist Financial raised their price objective on shares of Western Alliance Bancorporation from $74.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Western Alliance Bancorporation from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.27.

Western Alliance Bancorporation Stock Down 1.6 %

WAL opened at $80.38 on Wednesday. Western Alliance Bancorporation has a twelve month low of $38.81 and a twelve month high of $83.23. The company’s 50-day moving average price is $73.54 and its two-hundred day moving average price is $64.90. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.55 and a beta of 1.44. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.07.

Western Alliance Bancorporation (NYSE:WAL) last posted 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. The business had revenue of $771.80 million for the quarter, compared to the consensus estimate of $737.97 million. Western Alliance Bancorporation had a return on equity of 13.98% and a net margin of 15.54%. Western Alliance Bancorporation’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.96 earnings per share. As a group, equities analysts expect that Western Alliance Bancorporation will post 7.4 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.48 dividend on an annualized basis and a yield of 1.84%. Western Alliance Bancorporation’s dividend payout ratio is 21.57%.

Insider Buying and Selling at Western Alliance Bancorporation

In related news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $75.95, for a total transaction of $160,710.20. Following the sale, the chief accounting officer now directly owns 3,520 shares in the company, valued at approximately $267,344. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Barbara Kennedy sold 11,083 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the transaction, the insider now directly owns 7,977 shares in the company, valued at approximately $650,843.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $75.95, for a total value of $160,710.20. Following the completion of the sale, the chief accounting officer now owns 3,520 shares in the company, valued at approximately $267,344. The disclosure for this sale can be found here. Insiders have sold 18,269 shares of company stock valued at $1,452,472 in the last 90 days. 2.75% of the stock is currently owned by company insiders.

About Western Alliance Bancorporation

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.