Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC lessened its stake in Western Alliance Bancorporation (NYSE:WAL) by 86.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 487 shares of the financial services provider’s stock after selling 3,101 shares during the quarter. Farther Finance Advisors LLC’s holdings in Western Alliance Bancorporation were worth $42,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Western Alliance Bancorporation by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock valued at $670,170,000 after acquiring an additional 395,101 shares during the period. M&G Plc raised its holdings in Western Alliance Bancorporation by 12.4% during the second quarter. M&G Plc now owns 133,670 shares of the financial services provider’s stock worth $8,421,000 after purchasing an additional 14,734 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position 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 purchasing an additional 20,254 shares in the last quarter. First Hawaiian Bank acquired a new stake in Western Alliance Bancorporation in the second quarter valued at $474,000. Finally, Bank of Montreal Can increased its position in shares of Western Alliance Bancorporation by 41.4% in the second quarter. Bank of Montreal Can now owns 596,262 shares of the financial services provider’s stock valued at $37,475,000 after buying an additional 174,682 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Insider Buying and Selling at Western Alliance Bancorporation

In related news, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction 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. The trade was a 42.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the completion of the transaction, the insider now owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. This represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. 2.75% of the stock is currently owned by corporate insiders.

Western Alliance Bancorporation Stock Down 1.0 %

Shares of WAL opened at $91.87 on Friday. The firm has a market cap of $10.11 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 1.46 and a beta of 1.44. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The company’s fifty day moving average is $85.30 and its two-hundred day moving average is $74.10. Western Alliance Bancorporation has a fifty-two week low of $47.54 and a fifty-two week high of $96.45.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The firm had revenue of $833.10 million for the quarter, compared to analysts’ expectations of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. Analysts forecast that Western Alliance Bancorporation will post 7.13 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.38 dividend. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.52 annualized dividend and a yield of 1.65%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 22.84%.

Analysts Set New Price Targets

Several equities research analysts recently commented on WAL shares. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $83.00 to $101.00 in a research report on Monday, October 7th. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Royal Bank of Canada set a $99.00 price objective on Western Alliance Bancorporation and gave the stock an “outperform” rating in a research report on Friday, October 18th. 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. Finally, JPMorgan Chase & Co. cut their price target on Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and an average target price of $92.73.

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.