Generate Investment Management Ltd Has $12.14 Million Stock Position in Western Alliance Bancorporation $WAL

Generate Investment Management Ltd reduced its position in Western Alliance Bancorporation (NYSE:WAL) by 56.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,000 shares of the financial services provider’s stock after selling 179,449 shares during the period. Generate Investment Management Ltd owned about 0.13% of Western Alliance Bancorporation worth $12,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WAL. Hsbc Holdings PLC raised its holdings in Western Alliance Bancorporation by 15.9% during the first quarter. Hsbc Holdings PLC now owns 3,731 shares of the financial services provider’s stock valued at $287,000 after buying an additional 511 shares in the last quarter. Kestra Advisory Services LLC increased its holdings in Western Alliance Bancorporation by 2.6% in the 1st quarter. Kestra Advisory Services LLC now owns 14,070 shares of the financial services provider’s stock valued at $1,081,000 after buying an additional 360 shares during the period. EP Wealth Advisors LLC increased its stake in Western Alliance Bancorporation by 72.6% in the first quarter. EP Wealth Advisors LLC now owns 8,235 shares of the financial services provider’s stock valued at $633,000 after acquiring an additional 3,465 shares during the period. 683 Capital Management LLC raised its position in Western Alliance Bancorporation by 10.0% in the first quarter. 683 Capital Management LLC now owns 110,000 shares of the financial services provider’s stock worth $8,451,000 after purchasing an additional 10,000 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Western Alliance Bancorporation by 71.2% during the 1st quarter. NewEdge Advisors LLC now owns 7,815 shares of the financial services provider’s stock worth $600,000 after buying an additional 3,249 shares during the period. Institutional investors own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on WAL shares. Royal Bank Of Canada upped their target price on shares of Western Alliance Bancorporation from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Wells Fargo & Company decreased their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, October 23rd. UBS Group lowered their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Barclays lifted their price target on shares of Western Alliance Bancorporation from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Finally, Industrial Alliance Securities set a $115.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, December 19th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.87.

Western Alliance Bancorporation Trading Down 0.9%

Shares of NYSE:WAL opened at $84.60 on Wednesday. The firm has a market cap of $9.31 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 0.59 and a beta of 1.37. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $94.40. The company’s fifty day simple moving average is $81.54 and its 200 day simple moving average is $82.40. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

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

Western Alliance Bancorporation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, November 13th. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a dividend yield of 2.0%. Western Alliance Bancorporation’s payout ratio is 20.77%.

Insider Activity at Western Alliance Bancorporation

In related news, CFO Dale Gibbons purchased 4,000 shares of Western Alliance Bancorporation stock in a transaction on Thursday, October 30th. The stock was acquired at an average cost of $77.00 per share, for a total transaction 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. This trade represents a 1.35% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.