Wedmont Private Capital Purchases 276 Shares of Western Alliance Bancorporation (NYSE:WAL)

Wedmont Private Capital lifted its position in Western Alliance Bancorporation (NYSE:WAL) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,102 shares of the financial services provider’s stock after acquiring an additional 276 shares during the quarter. Wedmont Private Capital’s holdings in Western Alliance Bancorporation were worth $429,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky grew its stake in Western Alliance Bancorporation by 41.0% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 30,400 shares of the financial services provider’s stock valued at $2,000,000 after purchasing an additional 8,833 shares during the last quarter. Virtu Financial LLC purchased a new position in Western Alliance Bancorporation in the fourth quarter valued at about $873,000. Congress Asset Management Co. MA grew its stake in Western Alliance Bancorporation by 0.6% in the fourth quarter. Congress Asset Management Co. MA now owns 216,832 shares of the financial services provider’s stock valued at $14,265,000 after purchasing an additional 1,270 shares during the last quarter. GAMMA Investing LLC grew its stake 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 valued at $32,000 after purchasing an additional 183 shares during the last quarter. Finally, Oak Thistle LLC purchased a new position in Western Alliance Bancorporation in the first quarter valued at about $201,000. 79.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WAL shares. Deutsche Bank Aktiengesellschaft upgraded 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. Wells Fargo & Company boosted their price target on 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. Barclays boosted their price target on Western Alliance Bancorporation from $86.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. boosted their price target on Western Alliance Bancorporation from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Wedbush upped their target price on Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.53.

Western Alliance Bancorporation Trading Up 3.8 %

Shares of WAL stock opened at $88.69 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.88 and a quick ratio of 0.85. The company has a market cap of $9.76 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.29 and a beta of 1.44. The stock has a 50 day simple moving average of $80.92 and a 200-day simple moving average of $69.64. Western Alliance Bancorporation has a 1-year low of $38.81 and a 1-year high of $88.92.

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. 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 the consensus estimate of $737.97 million. During the same period in the prior year, the company earned $1.96 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. On average, equities research analysts expect that Western Alliance Bancorporation will post 7.42 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.67%. The ex-dividend date was Friday, August 16th. Western Alliance Bancorporation’s payout ratio is currently 22.26%.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $81.59, for a total transaction of $904,261.97. Following the transaction, the insider now owns 7,977 shares of the company’s stock, valued at $650,843.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction that occurred on 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 in the company, valued at approximately $335,634. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,265 shares of company stock worth $1,700,391. 2.75% of the stock is currently owned by company insiders.

Western Alliance Bancorporation 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.