Maverick Capital Ltd. Purchases Shares of 21,081 Western Alliance Bancorporation $WAL

Maverick Capital Ltd. purchased a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the 1st quarter, Holdings Channel reports. The fund purchased 21,081 shares of the financial services provider’s stock, valued at approximately $1,494,000.

A number of other large investors also recently modified their holdings of the business. Quadrant Capital Group LLC grew its holdings in shares of Western Alliance Bancorporation by 1.9% in the 4th quarter. Quadrant Capital Group LLC now owns 6,008 shares of the financial services provider’s stock valued at $505,000 after acquiring an additional 113 shares in the last quarter. Ritholtz Wealth Management raised its holdings in Western Alliance Bancorporation by 4.6% during the fourth quarter. Ritholtz Wealth Management now owns 3,030 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 133 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Western Alliance Bancorporation by 4.2% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,342 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 134 shares in the last quarter. Truist Financial Corp boosted its position in Western Alliance Bancorporation by 5.2% during the fourth quarter. Truist Financial Corp now owns 3,102 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 152 shares during the last quarter. Finally, Allworth Financial LP boosted its position in Western Alliance Bancorporation by 39.3% during the fourth quarter. Allworth Financial LP now owns 557 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 157 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $81.00, for a total value of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares of the company’s stock, valued at $282,285. This represents a 63.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.76% of the company’s stock.

Analyst Upgrades and Downgrades

WAL has been the topic of several recent analyst reports. Citigroup boosted their price target on Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Stifel Nicolaus set a $95.00 price objective on Western Alliance Bancorporation in a report on Thursday. TD Cowen raised their target price on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a “hold” rating in a research note on Monday. Weiss Ratings upgraded shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. Finally, Truist Financial upped their price target on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.82.

Western Alliance Bancorporation Trading Down 0.4%

WAL stock opened at $82.80 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.80. The company has a fifty day moving average price of $80.69 and a two-hundred day moving average price of $81.13. 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 $9.04 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 0.78 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 EPS for the quarter, meeting the consensus estimate of $2.36. The firm had revenue of $995.70 million for the quarter, compared to the consensus estimate of $980.53 million. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.40%. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.07 earnings per share. Equities analysts anticipate that Western Alliance Bancorporation will post 9.24 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

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

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.