Western Alliance Bancorporation $WAL Shares Sold by PAX Financial Group LLC

PAX Financial Group LLC trimmed its stake in Western Alliance Bancorporation (NYSE:WAL) by 31.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 12,070 shares of the financial services provider’s stock after selling 5,544 shares during the period. PAX Financial Group LLC’s holdings in Western Alliance Bancorporation were worth $941,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Western Alliance Bancorporation by 6.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,317 shares of the financial services provider’s stock worth $181,000 after acquiring an additional 136 shares in the last quarter. National Bank of Canada FI increased its stake in Western Alliance Bancorporation by 22.7% in 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 in the last quarter. ProShare Advisors LLC boosted its stake in shares of Western Alliance Bancorporation by 4.0% during the second quarter. ProShare Advisors LLC now owns 4,833 shares of the financial services provider’s stock valued at $377,000 after acquiring an additional 188 shares during the last quarter. Signaturefd LLC increased its holdings in Western Alliance Bancorporation by 14.8% in the 2nd quarter. Signaturefd LLC now owns 1,654 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 213 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT grew its stake in Western Alliance Bancorporation by 3.2% in the first quarter. Alliance Wealth Advisors LLC UT now owns 8,148 shares of the financial services provider’s stock worth $626,000 after purchasing an additional 256 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Dale Gibbons bought 4,000 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was purchased at an average price of $77.00 per share, with a total value of $308,000.00. Following the completion of the acquisition, the chief financial officer owned 300,358 shares of the company’s stock, valued at $23,127,566. The trade was a 1.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.68% of the stock is owned by company insiders.

Western Alliance Bancorporation Price Performance

NYSE:WAL opened at $78.17 on Monday. The company has a market cap of $8.60 billion, a P/E ratio of 9.66, a P/E/G ratio of 0.52 and a beta of 1.45. The firm’s fifty day moving average price is $82.48 and its two-hundred day moving average price is $80.30. Western Alliance Bancorporation has a one year low of $57.05 and a one year high of $98.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.79.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share for the quarter. The business had revenue of $718.00 million during the quarter. Western Alliance Bancorporation had a return on equity of 12.93% and a net margin of 17.14%. Equities analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, November 13th. Western Alliance Bancorporation’s payout ratio is 20.77%.

Analyst Ratings Changes

A number of brokerages recently commented on WAL. Wells Fargo & Company lowered their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, October 23rd. UBS Group lowered their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. TD Cowen initiated coverage on Western Alliance Bancorporation in a research report on Thursday, September 25th. They issued a “buy” rating and a $118.00 price objective for the company. Royal Bank Of Canada boosted their target price on Western Alliance Bancorporation from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Finally, Barclays reiterated an “overweight” rating on shares of Western Alliance Bancorporation in a research report on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.53.

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.