Susquehanna Fundamental Investments LLC Takes Position in Western Alliance Bancorporation $WAL

Susquehanna Fundamental Investments LLC bought a new position in shares of Western Alliance Bancorporation (NYSE:WAL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 12,267 shares of the financial services provider’s stock, valued at approximately $1,008,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised 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 valued at $600,000 after buying an additional 3,249 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Western Alliance Bancorporation by 513.5% during the first quarter. Jones Financial Companies Lllp now owns 1,730 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 1,448 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Western Alliance Bancorporation by 24.0% during the first quarter. Goldman Sachs Group Inc. now owns 111,883 shares of the financial services provider’s stock worth $8,596,000 after acquiring an additional 21,642 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Western Alliance Bancorporation by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,529 shares of the financial services provider’s stock valued at $26,701,000 after purchasing an additional 35,276 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of Western Alliance Bancorporation by 11.3% in the 2nd quarter. Cetera Investment Advisers now owns 7,017 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 713 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Down 1.1%

NYSE:WAL opened at $77.29 on Wednesday. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.81 and a current ratio of 0.86. The firm has a market cap of $8.43 billion, a P/E ratio of 8.70, a P/E/G ratio of 0.75 and a beta of 1.33. The firm has a 50-day simple moving average of $81.21 and a 200-day simple moving average of $79.42.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share 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 for the quarter, compared to the consensus estimate of $980.53 million. During the same quarter last year, the company earned $2.07 earnings per share. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. Equities analysts anticipate that Western Alliance Bancorporation will post 9.16 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Thursday, August 13th. Western Alliance Bancorporation’s dividend payout ratio is presently 18.92%.

Insider Buying and Selling at Western Alliance Bancorporation

In other news, CAO Ben Mucha sold 5,946 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $81.00, for a total transaction of $481,626.00. Following the completion of the sale, the chief accounting officer owned 3,485 shares in the company, valued at approximately $282,285. This represents a 63.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. DA Davidson set a $36.00 target price on Western Alliance Bancorporation in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Stephens set a $95.00 price objective on shares of Western Alliance Bancorporation and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Western Alliance Bancorporation in a research note on Friday, August 21st. Finally, Citigroup raised 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. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Western Alliance Bancorporation currently has a consensus 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.