Western Alliance Bancorporation (NYSE:WAL) Position Increased by Townsquare Capital LLC

Townsquare Capital LLC raised its position in Western Alliance Bancorporation (NYSE:WAL) by 9.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,484 shares of the financial services provider’s stock after purchasing an additional 703 shares during the quarter. Townsquare Capital LLC’s holdings in Western Alliance Bancorporation were worth $734,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of WAL. Dimensional Fund Advisors LP lifted its holdings in shares of Western Alliance Bancorporation by 20.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock valued at $233,832,000 after buying an additional 636,577 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Western Alliance Bancorporation by 0.7% in the second quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider’s stock valued at $176,764,000 after acquiring an additional 20,876 shares during the last quarter. FMR LLC grew its position in Western Alliance Bancorporation by 93.3% in the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock worth $241,568,000 after acquiring an additional 1,347,921 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of Western Alliance Bancorporation by 10.4% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,802,505 shares of the financial services provider’s stock worth $155,899,000 after purchasing an additional 169,244 shares during the last quarter. Finally, Smead Capital Management Inc. raised its holdings in shares of Western Alliance Bancorporation by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 1,350,195 shares of the financial services provider’s stock valued at $116,778,000 after purchasing an additional 45,543 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robert P. Latta sold 2,996 shares of the stock in a transaction 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 sale, the director now owns 4,056 shares in the company, valued at approximately $335,634. This represents a 42.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.75% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on WAL. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $83.00 to $101.00 in a research report on Monday, October 7th. Truist Financial cut their price objective on 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. Barclays upped their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Wedbush lifted their price target on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Finally, 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 report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.40.

Western Alliance Bancorporation Stock Down 0.4 %

NYSE WAL opened at $92.78 on Wednesday. Western Alliance Bancorporation has a twelve month low of $53.22 and a twelve month high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The stock has a market cap of $10.21 billion, a PE ratio of 14.32, a PEG ratio of 1.47 and a beta of 1.45. The firm has a 50-day simple moving average of $87.98 and a 200 day simple moving average of $77.16.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The business had revenue of $833.10 million during the quarter, compared to the consensus estimate of $811.40 million. On average, research analysts forecast that Western Alliance Bancorporation will post 7.14 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.38 per share. 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 1.64%. The ex-dividend date was Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio is currently 23.46%.

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.