Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC cut its holdings in Western Alliance Bancorporation (NYSE:WAL) by 2.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 40,607 shares of the financial services provider’s stock after selling 837 shares during the period. Townsquare Capital LLC’s holdings in Western Alliance Bancorporation were worth $3,120,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. HWG Holdings LP acquired a new position in shares of Western Alliance Bancorporation in the 1st quarter valued at about $25,000. Tsfg LLC acquired a new position in shares of Western Alliance Bancorporation in the 1st quarter valued at about $33,000. National Bank of Canada FI boosted its stake in Western Alliance Bancorporation by 22.7% during the 1st quarter. National Bank of Canada FI now owns 763 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 141 shares during the period. UMB Bank n.a. boosted its stake in Western Alliance Bancorporation by 91.5% during the 1st quarter. UMB Bank n.a. now owns 1,009 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 482 shares during the period. Finally, Larson Financial Group LLC boosted its stake in Western Alliance Bancorporation by 144.5% during the 1st quarter. Larson Financial Group LLC now owns 1,714 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 1,013 shares during the period. 79.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Tim R. Bruckner sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $83.91, for a total transaction of $209,775.00. Following the sale, the insider owned 24,759 shares in the company, valued at $2,077,527.69. The trade was a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WAL shares. DA Davidson boosted their target price on shares of Western Alliance Bancorporation from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Wall Street Zen raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Wednesday, May 21st. Truist Financial reduced their target price on shares of Western Alliance Bancorporation from $96.00 to $93.00 and set a “buy” rating for the company in a research note on Monday, July 21st. Royal Bank Of Canada reduced their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Finally, Stephens reaffirmed an “overweight” rating and issued a $92.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.62.

Western Alliance Bancorporation Stock Down 2.0%

NYSE WAL opened at $77.55 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.82. The company’s 50 day simple moving average is $78.56 and its 200 day simple moving average is $77.51. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $98.10. The company has a market capitalization of $8.56 billion, a P/E ratio of 10.19, a PEG ratio of 0.55 and a beta of 1.33.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.03. Western Alliance Bancorporation had a net margin of 16.39% and a return on equity of 12.62%. The business had revenue of $836.21 million for the quarter, compared to analyst estimates of $838.58 million. During the same quarter in the previous year, the business earned $1.75 earnings per share. Equities research analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.0%. Western Alliance Bancorporation’s payout ratio is currently 19.97%.

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.