Western Alliance Bancorporation $WAL Holdings Lowered by KBC Group NV

KBC Group NV reduced its stake in Western Alliance Bancorporation (NYSE:WAL) by 39.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,991 shares of the financial services provider’s stock after selling 1,949 shares during the period. KBC Group NV’s holdings in Western Alliance Bancorporation were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in WAL. Hantz Financial Services Inc. raised its holdings in Western Alliance Bancorporation by 995.8% during the second quarter. Hantz Financial Services Inc. now owns 526 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 478 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Western Alliance Bancorporation during the 1st quarter valued at $58,000. National Bank of Canada FI raised its stake in shares of Western Alliance Bancorporation by 22.7% in the 1st quarter. National Bank of Canada FI now owns 763 shares of the financial services provider’s stock worth $59,000 after buying an additional 141 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Western Alliance Bancorporation by 1,614.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,269 shares of the financial services provider’s stock worth $99,000 after buying an additional 1,195 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Western Alliance Bancorporation by 14.8% in the second quarter. Signaturefd LLC now owns 1,654 shares of the financial services provider’s stock valued at $129,000 after buying an additional 213 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Up 0.2%

NYSE:WAL opened at $73.98 on Wednesday. The business’s fifty day moving average price is $81.88 and its 200 day moving average price is $80.33. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 0.52 and a beta of 1.45. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $98.10.

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

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, November 13th. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a yield of 2.3%. Western Alliance Bancorporation’s payout ratio is presently 20.77%.

Insiders Place Their Bets

In related news, CFO Dale Gibbons bought 4,000 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was bought at an average price of $77.00 per share, for a total transaction of $308,000.00. Following the transaction, the chief financial officer directly owned 300,358 shares in the company, valued at $23,127,566. This represents a 1.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on WAL. JPMorgan Chase & Co. lifted their target price on Western Alliance Bancorporation from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Keefe, Bruyette & Woods reduced their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Wall Street Zen raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. National Bankshares set a $118.00 target price on shares of Western Alliance Bancorporation in a research note on Wednesday, September 24th. Finally, Cowen assumed coverage on shares of Western Alliance Bancorporation in a report on Wednesday, September 24th. They set a “buy” rating for the company. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.53.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.