Inceptionr LLC Acquires Shares of 8,230 Western Alliance Bancorporation $WAL

Inceptionr LLC bought a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,230 shares of the financial services provider’s stock, valued at approximately $583,000.

Other hedge funds have also bought and sold shares of the company. M&T Bank Corp boosted its stake in Western Alliance Bancorporation by 7,920.9% during the fourth quarter. M&T Bank Corp now owns 315,624 shares of the financial services provider’s stock valued at $26,535,000 after buying an additional 311,689 shares during the last quarter. Perpetual Ltd increased its stake in Western Alliance Bancorporation by 55.7% in the 4th quarter. Perpetual Ltd now owns 557,894 shares of the financial services provider’s stock worth $46,902,000 after acquiring an additional 199,591 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Western Alliance Bancorporation by 2,313.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 18,895 shares of the financial services provider’s stock worth $1,589,000 after acquiring an additional 18,112 shares in the last quarter. Generate Investment Management Ltd boosted its position in shares of Western Alliance Bancorporation by 14.3% during the 4th quarter. Generate Investment Management Ltd now owns 160,000 shares of the financial services provider’s stock valued at $13,451,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Oak Thistle LLC purchased a new position in shares of Western Alliance Bancorporation in the fourth quarter valued at $1,393,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Up 0.0%

WAL opened at $83.01 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.81 and a current ratio of 0.85. The stock’s 50 day moving average price is $80.57 and its 200-day moving average price is $81.22. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23. The stock has a market cap of $9.06 billion, a price-to-earnings ratio of 9.35, a P/E/G ratio of 0.76 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.36. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The company had revenue of $995.70 million during the quarter, compared to analysts’ expectations of $980.53 million. During the same quarter in the previous year, the business earned $2.07 EPS. Western Alliance Bancorporation’s revenue was up 17.7% compared to the same quarter last year. On average, equities analysts forecast that Western Alliance Bancorporation will post 9.24 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Thursday, May 14th. Western Alliance Bancorporation’s payout ratio is 18.92%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WAL shares. Mizuho set a $96.00 price target on shares of Western Alliance Bancorporation in a research note on Thursday. Citigroup boosted their target price on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Piper Sandler upped their target price on shares of Western Alliance Bancorporation from $92.00 to $97.00 and gave the company an “overweight” rating in a research report on Friday. Stephens set a $95.00 price target on shares of Western Alliance Bancorporation and gave the company an “overweight” rating in a report on Thursday. Finally, UBS Group lifted their price target on Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.71.

Insider Buying and Selling

In other news, CAO Ben Mucha sold 5,946 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $81.00, for a total transaction of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares of the company’s stock, valued at approximately $282,285. This trade represents a 63.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.76% of the stock is owned by corporate insiders.

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.