Exchange Traded Concepts LLC Acquires 648 Shares of Western Alliance Bancorporation (NYSE:WAL)

Exchange Traded Concepts LLC raised its holdings in Western Alliance Bancorporation (NYSE:WAL) by 3.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,152 shares of the financial services provider’s stock after buying an additional 648 shares during the period. Exchange Traded Concepts LLC’s holdings in Western Alliance Bancorporation were worth $1,656,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WAL. Vanguard Group Inc. boosted its stake in shares of Western Alliance Bancorporation by 3.9% during the first quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock valued at $670,170,000 after purchasing an additional 395,101 shares during the period. SG Americas Securities LLC increased its stake in shares of Western Alliance Bancorporation by 1,706.9% during the first quarter. SG Americas Securities LLC now owns 30,898 shares of the financial services provider’s stock valued at $1,983,000 after buying an additional 29,188 shares during the period. M&G Plc raised its holdings in shares of Western Alliance Bancorporation by 12.4% in the 2nd quarter. M&G Plc now owns 133,670 shares of the financial services provider’s stock valued at $8,421,000 after purchasing an additional 14,734 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Western Alliance Bancorporation by 1.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,633,261 shares of the financial services provider’s stock worth $102,603,000 after buying an additional 20,254 shares during the period. Finally, First Hawaiian Bank purchased a new stake in shares of Western Alliance Bancorporation during the 2nd quarter worth $474,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Insiders Place Their Bets

In related news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of Western Alliance Bancorporation stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $75.95, for a total value of $160,710.20. Following the completion of the transaction, the chief accounting officer now owns 3,520 shares in the company, valued at $267,344. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of Western Alliance Bancorporation 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 owns 3,520 shares of the company’s stock, valued at approximately $267,344. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,265 shares of company stock worth $1,700,391. Company insiders own 2.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on WAL shares. Royal Bank of Canada increased their price objective on Western Alliance Bancorporation from $78.00 to $87.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Piper Sandler raised their price target on Western Alliance Bancorporation from $76.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. upped their price objective 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 cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Finally, Wedbush upped their price target on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.53.

Western Alliance Bancorporation Stock Up 2.3 %

Shares of WAL opened at $90.88 on Wednesday. The company has a market capitalization of $10.01 billion, a price-to-earnings ratio of 13.25, a PEG 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 $92.73. The stock’s 50-day moving average price is $81.58 and its 200-day moving average price is $70.04. 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 (NYSE:WAL) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.75 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 business had revenue of $771.80 million for the quarter, compared to analysts’ expectations of $737.97 million. During the same quarter last year, the company earned $1.96 EPS. The business’s revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts predict that Western Alliance Bancorporation will post 7.42 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.37 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.48 dividend on an annualized basis and a yield of 1.63%. Western Alliance Bancorporation’s payout ratio is 21.57%.

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.