Prospera Financial Services Inc Has $533,000 Stake in Western Alliance Bancorporation (NYSE:WAL)

Prospera Financial Services Inc decreased its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 6.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,163 shares of the financial services provider’s stock after selling 449 shares during the quarter. Prospera Financial Services Inc’s holdings in Western Alliance Bancorporation were worth $533,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth about $31,000. ORG Wealth Partners LLC bought a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth about $33,000. UMB Bank n.a. increased its holdings in shares of Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 249 shares during the period. Blue Trust Inc. increased its stake in Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 187 shares during the period. Finally, ORG Partners LLC bought a new stake in Western Alliance Bancorporation in the second quarter valued at about $36,000. Institutional investors own 79.15% of the company’s stock.

Insider Activity at Western Alliance Bancorporation

In related news, insider Barbara Kennedy sold 11,083 shares of the stock in a transaction that occurred on 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 directly owns 7,977 shares in the company, valued at $650,843.43. This represents a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert P. Latta sold 2,996 shares of the 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 completion of the transaction, the director now owns 4,056 shares in the company, valued at $335,634. This represents a 42.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WAL shares. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and upped their target price for the company from $83.00 to $101.00 in a research note on Monday, October 7th. Royal Bank of Canada set a $99.00 target price on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a research note on Friday, October 18th. Truist Financial lowered their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Finally, Piper Sandler decreased their price objective on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. One investment 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $92.73.

Western Alliance Bancorporation Price Performance

Shares of WAL stock opened at $93.65 on Friday. Western Alliance Bancorporation has a 1 year low of $47.60 and a 1 year high of $96.45. The firm’s 50 day moving average is $86.81 and its 200-day moving average is $75.61. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.44 and a beta of 1.44. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last announced its 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). Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. The company had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. Sell-side analysts forecast that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The firm also recently disclosed 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. This represents a $1.52 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio is currently 23.46%.

Western Alliance Bancorporation 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.