GAMMA Investing LLC Grows Position in Western Alliance Bancorporation (NYSE:WAL)

GAMMA Investing LLC raised its stake in Western Alliance Bancorporation (NYSE:WAL) by 124.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,134 shares of the financial services provider’s stock after buying an additional 628 shares during the period. GAMMA Investing LLC’s holdings in Western Alliance Bancorporation were worth $98,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in Western Alliance Bancorporation in the 1st quarter valued at about $27,000. ORG Partners LLC purchased a new stake in Western Alliance Bancorporation in the 2nd quarter valued at about $36,000. Chilton Capital Management LLC purchased a new stake in Western Alliance Bancorporation in the 2nd quarter valued at about $54,000. Versant Capital Management Inc boosted 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 buying an additional 244 shares during the period. Finally, Plato Investment Management Ltd boosted its position in 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 owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WAL shares. Royal Bank of Canada boosted their price target on shares of Western Alliance Bancorporation from $78.00 to $87.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Wells Fargo & Company boosted their price target on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Jefferies Financial Group boosted their price target on shares of Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Piper Sandler boosted their price target on shares of Western Alliance Bancorporation from $76.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Finally, Truist Financial boosted their price target on shares of Western Alliance Bancorporation from $88.00 to $100.00 and gave the company a “buy” rating in a report on Friday, September 20th. 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’s stock. According to data from MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and an average target price of $89.53.

Western Alliance Bancorporation Stock Up 0.1 %

WAL stock opened at $88.80 on Tuesday. The firm’s fifty day simple moving average is $81.23 and its 200-day simple moving average is $69.85. The company has a market capitalization of $9.78 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 1.29 and a beta of 1.44. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.88 and a quick ratio of 0.85. Western Alliance Bancorporation has a 12 month low of $38.81 and a 12 month high of $89.48.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 13.98%. The firm had revenue of $771.80 million for the quarter, compared to the consensus estimate of $737.97 million. During the same period in the prior year, the firm posted $1.96 earnings per share. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts forecast that Western Alliance Bancorporation will post 7.42 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 22.26%.

Insider Buying and Selling

In related news, insider Barbara Kennedy sold 11,083 shares of the 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 sale, the insider now directly owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the transaction, the director now directly owns 4,056 shares of the company’s stock, valued at $335,634. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Barbara Kennedy sold 11,083 shares of the 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 transaction, the insider now directly owns 7,977 shares in the company, valued at approximately $650,843.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,265 shares of company stock valued at $1,700,391. Corporate 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.