Sanctuary Advisors LLC Purchases Shares of 3,760 Western Alliance Bancorporation (NYSE:WAL)

Sanctuary Advisors LLC acquired a new position in shares of Western Alliance Bancorporation (NYSE:WAL) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,760 shares of the financial services provider’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LHM Inc. grew its stake in shares of Western Alliance Bancorporation by 55.4% in the second quarter. LHM Inc. now owns 52,554 shares of the financial services provider’s stock valued at $3,301,000 after acquiring an additional 18,740 shares in the last quarter. Creative Planning grew its position in shares of Western Alliance Bancorporation by 6.1% during the 2nd quarter. Creative Planning now owns 5,756 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 330 shares in the last quarter. Algert Global LLC grew its position in shares of Western Alliance Bancorporation by 18.8% during the 2nd quarter. Algert Global LLC now owns 145,540 shares of the financial services provider’s stock worth $9,143,000 after purchasing an additional 22,989 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Western Alliance Bancorporation by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 523,425 shares of the financial services provider’s stock worth $32,882,000 after purchasing an additional 4,801 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Western Alliance Bancorporation by 119.5% in the second quarter. AQR Capital Management LLC now owns 252,690 shares of the financial services provider’s stock valued at $15,596,000 after buying an additional 137,577 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Truist Financial raised their price objective on Western Alliance Bancorporation from $88.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Wells Fargo & Company raised their price target on Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Piper Sandler set a $102.00 price target on Western Alliance Bancorporation in a research note on Friday. Royal Bank of Canada set a $99.00 price objective on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research note on Friday. Finally, Bank of America boosted their target price on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $92.27.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock opened at $85.53 on Monday. The company’s 50 day moving average price is $82.58 and its two-hundred day moving average price is $70.65. The firm has a market capitalization of $9.42 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.30 and a beta of 1.44. Western Alliance Bancorporation has a fifty-two week low of $38.81 and a fifty-two week high of $94.28. 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 (NYSE:WAL) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.04. Western Alliance Bancorporation had a return on equity of 13.42% and a net margin of 14.66%. The company had revenue of $771.80 million for the quarter, compared to the consensus estimate of $737.97 million. During the same quarter last year, the business posted $1.96 EPS. Western Alliance Bancorporation’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities analysts forecast that Western Alliance Bancorporation will post 7.39 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Friday, August 16th. Western Alliance Bancorporation’s payout ratio is 22.84%.

Insider Transactions at Western Alliance Bancorporation

In related news, insider Stephen Russell Curley sold 5,070 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the transaction, the insider now owns 36,718 shares in the company, valued at $2,806,356.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Stephen Russell Curley sold 5,070 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the sale, the insider now directly owns 36,718 shares in the company, valued at $2,806,356.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $335,634. This represents 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 19,149 shares of company stock worth $1,539,681. 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.