Victory Capital Management Inc. Has $907,000 Stake in Western Alliance Bancorporation (NYSE:WAL)

Victory Capital Management Inc. decreased its stake in Western Alliance Bancorporation (NYSE:WAL) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,439 shares of the financial services provider’s stock after selling 432 shares during the quarter. Victory Capital Management Inc.’s holdings in Western Alliance Bancorporation were worth $907,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Russell Investments Group Ltd. raised its position in Western Alliance Bancorporation by 0.6% in 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 raised its position in Western Alliance Bancorporation by 57.4% in the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 183 shares during the last quarter. Versant Capital Management Inc raised its position in Western Alliance Bancorporation by 26.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 244 shares during the last quarter. Riverwater Partners LLC raised its position in 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 valued at $1,891,000 after purchasing an additional 287 shares during the last quarter. Finally, Madison Asset Management LLC raised its position in Western Alliance Bancorporation by 0.4% in the 4th quarter. Madison Asset Management LLC now owns 75,371 shares of the financial services provider’s stock valued at $4,959,000 after purchasing an additional 297 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Down 0.8 %

Shares of Western Alliance Bancorporation stock opened at $87.69 on Friday. 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 has a 12 month low of $38.81 and a 12 month high of $88.92. The business has a fifty day simple moving average of $78.38 and a 200 day simple moving average of $66.96. The stock has a market cap of $9.66 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 1.56 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $771.80 million during the quarter, compared to analysts’ expectations of $737.97 million. During the same period in the previous year, the firm earned $1.96 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. Research analysts predict that Western Alliance Bancorporation will post 7.4 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders 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 1.69%. Western Alliance Bancorporation’s payout ratio is 21.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Truist Financial lifted their price objective on Western Alliance Bancorporation from $88.00 to $100.00 and gave the company a “buy” rating in a research report on Friday. Jefferies Financial Group lifted their price objective on Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. boosted their target price on Western Alliance Bancorporation from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Barclays boosted their target price on Western Alliance Bancorporation from $86.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Finally, Royal Bank of Canada boosted their target price on Western Alliance Bancorporation from $78.00 to $87.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $85.07.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the business’s 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 completion of the transaction, the director now directly owns 4,056 shares of the company’s stock, valued at $335,634. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other 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 transaction of $904,261.97. Following the completion of the transaction, the insider now directly owns 7,977 shares of the company’s stock, valued at $650,843.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert P. Latta sold 2,996 shares of the company’s 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 directly owns 4,056 shares of the company’s stock, valued at $335,634. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,265 shares of company stock valued at $1,700,391. Company insiders own 2.75% 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.