KBC Group NV Raises Stock Position in Western Alliance Bancorporation (NYSE:WAL)

KBC Group NV raised its holdings in Western Alliance Bancorporation (NYSE:WAL) by 15.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,779 shares of the financial services provider’s stock after purchasing an additional 367 shares during the quarter. KBC Group NV’s holdings in Western Alliance Bancorporation were worth $240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WAL. Victory Capital Management Inc. lifted its holdings in shares of Western Alliance Bancorporation by 25.4% in the 3rd quarter. Victory Capital Management Inc. now owns 18,101 shares of the financial services provider’s stock valued at $1,566,000 after buying an additional 3,662 shares during the period. Entropy Technologies LP purchased a new stake in Western Alliance Bancorporation in the 3rd quarter worth approximately $254,000. WCM Investment Management LLC grew its stake in shares of Western Alliance Bancorporation by 1.5% during the 3rd quarter. WCM Investment Management LLC now owns 274,028 shares of the financial services provider’s stock worth $23,451,000 after purchasing an additional 4,003 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of Western Alliance Bancorporation by 575.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,031 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 2,582 shares in the last quarter. Finally, Lisanti Capital Growth LLC acquired a new position in shares of Western Alliance Bancorporation in the 3rd quarter valued at $3,612,000. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Down 0.1 %

NYSE WAL opened at $89.16 on Wednesday. The business’s fifty day simple moving average is $86.11 and its 200-day simple moving average is $75.09. 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 firm has a market cap of $9.81 billion, a PE ratio of 13.76, a P/E/G ratio of 1.42 and a beta of 1.44. Western Alliance Bancorporation has a 52 week low of $47.60 and a 52 week high of $96.45.

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

Western Alliance Bancorporation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.70%. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s payout ratio is currently 23.46%.

Insider Activity

In other Western Alliance Bancorporation news, 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 value 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 58.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction dated 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 approximately $335,634. This represents a 42.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WAL shares. Truist Financial cut their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a report on Monday, October 21st. StockNews.com downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. cut their price objective on 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. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their target price for the company from $83.00 to $101.00 in a research report on Monday, October 7th. Finally, Wells Fargo & Company increased their price objective on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $92.73.

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.