Toth Financial Advisory Corp Acquires 10,250 Shares of Western Alliance Bancorporation (NYSE:WAL)

Toth Financial Advisory Corp boosted its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 2,117.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,734 shares of the financial services provider’s stock after purchasing an additional 10,250 shares during the quarter. Toth Financial Advisory Corp’s holdings in Western Alliance Bancorporation were worth $928,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake 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 worth $32,000 after purchasing an additional 183 shares in the last quarter. Oak Thistle LLC bought a new position in Western Alliance Bancorporation during the first quarter valued at approximately $201,000. Allspring Global Investments Holdings LLC purchased a new position in Western Alliance Bancorporation during the 1st quarter valued at approximately $27,000. Principal Financial Group Inc. increased its stake in Western Alliance Bancorporation by 32.7% in the 1st quarter. Principal Financial Group Inc. now owns 9,019 shares of the financial services provider’s stock worth $579,000 after acquiring an additional 2,220 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Western Alliance Bancorporation by 1,649.6% in the first quarter. BNP Paribas Financial Markets now owns 58,191 shares of the financial services provider’s stock valued at $3,735,000 after purchasing an additional 54,865 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WAL. Barclays boosted their target price on shares of Western Alliance Bancorporation from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Stephens restated an “overweight” rating and set a $102.00 price target on shares of Western Alliance Bancorporation in a report 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. StockNews.com downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. 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 stock from $83.00 to $101.00 in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.73.

Western Alliance Bancorporation Trading Down 5.9 %

WAL opened at $80.49 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.30 and a beta of 1.44. Western Alliance Bancorporation has a 12 month low of $38.81 and a 12 month high of $94.28. The stock has a fifty day moving average price of $82.73 and a 200-day moving average price of $70.79.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Friday, August 16th. Western Alliance Bancorporation’s payout ratio is 22.84%.

Insider Activity

In related news, insider Stephen Russell Curley sold 5,070 shares of the business’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 transaction 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. 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 related news, insider Stephen Russell Curley sold 5,070 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $76.43, for a total transaction of $387,500.10. Following the transaction, the insider now directly owns 36,718 shares in the company, valued at $2,806,356.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Barbara Kennedy sold 11,083 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $81.59, for a total value of $904,261.97. Following the completion of the sale, the insider now owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,149 shares of company stock worth $1,539,681. 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.