Sanctuary Advisors LLC Takes Position in Western Alliance Bancorporation $WAL

Sanctuary Advisors LLC bought a new stake in Western Alliance Bancorporation (NYSE:WAL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,071 shares of the financial services provider’s stock, valued at approximately $910,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Western Alliance Bancorporation in the second quarter valued at about $926,898,000. Price T Rowe Associates Inc. MD boosted its position in Western Alliance Bancorporation by 9.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,746,867 shares of the financial services provider’s stock valued at $735,350,000 after buying an additional 777,369 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Western Alliance Bancorporation by 7.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,450,408 shares of the financial services provider’s stock valued at $542,286,000 after buying an additional 470,492 shares during the last quarter. Invesco Ltd. increased its holdings in Western Alliance Bancorporation by 3.4% in the 3rd quarter. Invesco Ltd. now owns 6,016,027 shares of the financial services provider’s stock worth $521,710,000 after buying an additional 197,854 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Western Alliance Bancorporation by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,813,995 shares of the financial services provider’s stock worth $270,203,000 after buying an additional 36,534 shares during the period. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of Western Alliance Bancorporation stock in a transaction on Monday, June 8th. The shares were sold at an average price of $81.00, for a total value of $481,626.00. Following the completion of the transaction, the chief accounting officer owned 3,485 shares of the company’s stock, valued at approximately $282,285. The trade was a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.76% of the company’s stock.

Western Alliance Bancorporation Trading Down 1.1%

Western Alliance Bancorporation stock opened at $78.75 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.93. Western Alliance Bancorporation has a 12 month low of $65.82 and a 12 month high of $97.23. The stock’s 50 day simple moving average is $81.32 and its two-hundred day simple moving average is $79.79. The firm has a market cap of $8.59 billion, a PE ratio of 8.87, a P/E/G ratio of 0.77 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share for the quarter, meeting the consensus estimate of $2.36. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.40%. The firm had revenue of $995.70 million during the quarter, compared to analyst estimates of $980.53 million. During the same period in the previous year, the firm earned $2.07 EPS. The business’s quarterly revenue was up 17.7% on a year-over-year basis. Analysts anticipate that Western Alliance Bancorporation will post 9.16 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.1%. The ex-dividend date was Thursday, August 13th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 18.92%.

Wall Street Analysts Forecast Growth

Several analysts have commented on WAL shares. Stifel Nicolaus set a $95.00 price objective on shares of Western Alliance Bancorporation in a research note on Thursday, July 23rd. TD Cowen increased their price objective on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, July 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Western Alliance Bancorporation in a report on Friday, August 21st. Piper Sandler raised their target price on shares of Western Alliance Bancorporation from $92.00 to $97.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Finally, Truist Financial boosted their target price on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and an average target price of $95.47.

About Western Alliance Bancorporation

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.