Blue Trust Inc. Buys 187 Shares of Western Alliance Bancorporation (NYSE:WAL)

Blue Trust Inc. boosted its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 58.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 507 shares of the financial services provider’s stock after buying an additional 187 shares during the quarter. Blue Trust Inc.’s holdings in Western Alliance Bancorporation were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new position in shares of Western Alliance Bancorporation in the third quarter worth approximately $31,000. nVerses Capital LLC purchased a new stake in Western Alliance Bancorporation during the third quarter valued at $623,000. Creative Planning raised its stake in Western Alliance Bancorporation by 18.9% during the third quarter. Creative Planning now owns 6,843 shares of the financial services provider’s stock valued at $592,000 after purchasing an additional 1,087 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Western Alliance Bancorporation in the third quarter valued at $33,000. Finally, Oliver Luxxe Assets LLC raised its stake in shares of Western Alliance Bancorporation by 36.5% in the third quarter. Oliver Luxxe Assets LLC now owns 47,809 shares of the financial services provider’s stock valued at $4,135,000 after acquiring an additional 12,776 shares during the period. 79.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WAL has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Stephens reiterated an “overweight” rating and set a $102.00 target price on shares of Western Alliance Bancorporation in a report on Friday, October 18th. JPMorgan Chase & Co. decreased their price target on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Truist Financial decreased their price target on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Western Alliance Bancorporation has an average rating of “Moderate Buy” and a consensus price target of $92.60.

Western Alliance Bancorporation Stock Performance

WAL opened at $83.31 on Friday. Western Alliance Bancorporation has a 12-month low of $43.20 and a 12-month high of $94.28. 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 capitalization of $9.17 billion, a PE ratio of 12.86, a P/E/G ratio of 1.32 and a beta of 1.44. The firm has a 50 day moving average of $83.77 and a two-hundred day moving average of $72.17.

Insider Transactions at Western Alliance Bancorporation

In other news, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction on Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the sale, the director now owns 4,056 shares of the company’s stock, valued at approximately $335,634. 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 dated 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 position. The disclosure for this sale can be found here. Corporate 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.