American Century Companies Inc. Reduces Position in Western Alliance Bancorporation (NYSE:WAL)

American Century Companies Inc. trimmed its holdings in Western Alliance Bancorporation (NYSE:WAL) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,486 shares of the financial services provider’s stock after selling 8,134 shares during the quarter. American Century Companies Inc.’s holdings in Western Alliance Bancorporation were worth $21,766,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Western Alliance Bancorporation in the first quarter valued at approximately $27,000. GAMMA Investing LLC increased its stake in shares of Western Alliance Bancorporation by 57.4% in the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 183 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Western Alliance Bancorporation in the 2nd quarter worth $36,000. Chilton Capital Management LLC purchased a new position in shares of Western Alliance Bancorporation during the 2nd quarter worth $54,000. Finally, 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 valued at $73,000 after acquiring an additional 244 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on WAL. Piper Sandler lifted their target price on shares of Western Alliance Bancorporation from $76.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Truist Financial lifted their price target on shares of Western Alliance Bancorporation from $74.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. StockNews.com lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Wells Fargo & Company lifted their target price on 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. Finally, 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.27.

Western Alliance Bancorporation Trading Up 4.2 %

NYSE WAL opened at $88.40 on Friday. 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 has a market cap of $9.73 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.56 and a beta of 1.44. The firm has a 50 day simple moving average of $77.97 and a 200-day simple moving average of $66.73. Western Alliance Bancorporation has a one year low of $38.81 and a one year high of $88.92.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly 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. The business had revenue of $771.80 million during the quarter, compared to the consensus estimate of $737.97 million. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 13.98%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.96 earnings per share. Equities research analysts anticipate that Western Alliance Bancorporation will post 7.4 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid 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 1.67%. Western Alliance Bancorporation’s payout ratio is 21.57%.

Insider Activity at Western Alliance Bancorporation

In other news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $75.95, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert P. Latta sold 2,996 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the transaction, the director now owns 4,056 shares in the company, valued at approximately $335,634. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 3,520 shares of the company’s stock, valued at approximately $267,344. The disclosure for this sale can be found here. Insiders have sold a total of 21,265 shares of company stock valued at $1,700,391 over the last 90 days. 2.75% of the stock is owned by corporate 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.