UMB Bank n.a. Has $37,000 Stake in Western Alliance Bancorporation (NYSE:WAL)

UMB Bank n.a. boosted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 136.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 431 shares of the financial services provider’s stock after purchasing an additional 249 shares during the quarter. UMB Bank n.a.’s holdings in Western Alliance Bancorporation were worth $37,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of WAL. Teachers Retirement System of The State of Kentucky increased its holdings in Western Alliance Bancorporation by 41.0% in the 4th 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 buying an additional 8,833 shares during the period. GAMMA Investing LLC increased its holdings 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 buying an additional 183 shares during the period. Oak Thistle LLC bought a new position in Western Alliance Bancorporation in the 1st quarter valued at about $201,000. Allspring Global Investments Holdings LLC bought a new position in Western Alliance Bancorporation in the 1st quarter valued at about $27,000. Finally, Meritage Portfolio Management bought a new position in Western Alliance Bancorporation in the 1st quarter valued at about $452,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on WAL shares. JPMorgan Chase & Co. raised their target price on shares of Western Alliance Bancorporation from $100.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Wells Fargo & Company lifted 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. Wedbush lifted their price target on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and lifted their price target for the company from $83.00 to $101.00 in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.53.

Western Alliance Bancorporation Stock Up 0.1 %

Shares of NYSE WAL opened at $88.80 on Tuesday. 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. Western Alliance Bancorporation has a 52-week low of $38.81 and a 52-week high of $89.48. 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 company’s 50 day moving average price is $81.23 and its 200-day moving average price is $69.85.

Western Alliance Bancorporation (NYSE:WAL) last issued 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. The firm had revenue of $771.80 million for 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 revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.96 EPS. Equities analysts forecast that Western Alliance Bancorporation will post 7.42 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.37 per share. The ex-dividend date of this dividend 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 presently 22.26%.

Insider Activity at Western Alliance Bancorporation

In related news, Director Robert P. Latta sold 2,996 shares of the business’s 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 owns 4,056 shares in the company, valued at $335,634. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Stephen Russell Curley sold 5,070 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total transaction of $387,500.10. Following the transaction, the insider now owns 36,718 shares in the company, valued at $2,806,356.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert P. Latta sold 2,996 shares of the business’s 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 sale, the director now owns 4,056 shares of the company’s stock, valued at $335,634. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,265 shares of company stock worth $1,700,391 in the last quarter. Company insiders own 2.75% of the company’s stock.

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.