Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Tradewinds LLC.

Tradewinds LLC. reduced its stake in Western Alliance Bancorporation (NYSE:WAL) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,235 shares of the financial services provider’s stock after selling 220 shares during the period. Tradewinds LLC.’s holdings in Western Alliance Bancorporation were worth $626,000 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 the stock. Allspring Global Investments Holdings LLC bought a new position in Western Alliance Bancorporation during the 1st quarter valued at $27,000. Russell Investments Group Ltd. boosted its stake in Western Alliance Bancorporation by 0.6% during the first quarter. Russell Investments Group Ltd. now owns 29,768 shares of the financial services provider’s stock valued at $1,911,000 after buying an additional 164 shares in the last quarter. Vanguard Group Inc. grew its holdings in Western Alliance Bancorporation by 3.9% during the first quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock worth $670,170,000 after acquiring an additional 395,101 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in Western Alliance Bancorporation during the first quarter worth about $217,000. Finally, CANADA LIFE ASSURANCE Co raised its position in Western Alliance Bancorporation by 7.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 48,803 shares of the financial services provider’s stock worth $3,131,000 after acquiring an additional 3,221 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Insider Activity at Western Alliance Bancorporation

In other news, insider Barbara Kennedy sold 11,083 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $81.59, for a total transaction of $904,261.97. Following the transaction, the insider now owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. This represents a 58.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the sale, the director now owns 4,056 shares of the company’s stock, valued at approximately $335,634. This trade represents a 42.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.75% of the company’s stock.

Analyst Ratings Changes

WAL has been the topic of several recent research reports. Royal Bank of Canada set a $99.00 price objective on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their price target on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Truist Financial cut their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and lifted their target price for the stock from $83.00 to $101.00 in a report on Monday, October 7th. Finally, Piper Sandler reduced their target price on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

Western Alliance Bancorporation Stock Down 0.0 %

WAL stock opened at $89.12 on Thursday. The company has a 50 day moving average of $86.31 and a two-hundred day moving average of $75.18. The company has a market cap of $9.81 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.40 and a beta of 1.44. Western Alliance Bancorporation has a 12-month low of $47.60 and a 12-month high of $96.45. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10). Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. The firm had revenue of $833.10 million for the quarter, compared to analysts’ expectations of $811.40 million. On average, equities analysts anticipate that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.71%. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio is currently 23.46%.

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.