Western Alliance Bancorporation (NYSE:WAL) Shares Purchased by KBC Group NV

KBC Group NV grew its stake in Western Alliance Bancorporation (NYSE:WAL) by 15.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,779 shares of the financial services provider’s stock after buying an additional 367 shares during the quarter. KBC Group NV’s holdings in Western Alliance Bancorporation were worth $240,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Western Alliance Bancorporation in the third quarter worth approximately $31,000. ORG Wealth Partners LLC acquired a new position in shares of Western Alliance Bancorporation during the third quarter worth $33,000. Allspring Global Investments Holdings LLC purchased a new position in Western Alliance Bancorporation in the first quarter valued at $27,000. UMB Bank n.a. raised its stake in Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after buying an additional 249 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Western Alliance Bancorporation by 58.4% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after buying an additional 187 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the stock in a transaction 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 transaction, the director now owns 4,056 shares in the company, valued at approximately $335,634. This represents a 42.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Barbara Kennedy sold 11,083 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $81.59, for a total transaction of $904,261.97. Following the sale, the insider now owns 7,977 shares in the company, valued at $650,843.43. The trade was a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.75% of the stock is currently owned by corporate insiders.

Western Alliance Bancorporation Stock Down 0.1 %

Western Alliance Bancorporation stock opened at $89.16 on Wednesday. The stock has a 50 day moving average of $86.11 and a two-hundred day moving average of $75.09. Western Alliance Bancorporation has a twelve month low of $47.60 and a twelve month high of $96.45. The stock has a market capitalization of $9.81 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.42 and a beta of 1.44. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The company had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. As a group, research analysts expect that Western Alliance Bancorporation will post 7.13 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.70%. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, November 15th. Western Alliance Bancorporation’s payout ratio is 23.46%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WAL shares. Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wedbush boosted their price objective on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and upped their target price for the company from $83.00 to $101.00 in a report on Monday, October 7th. JPMorgan Chase & Co. cut their price target on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, Stephens restated an “overweight” rating and issued a $102.00 price objective on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.73.

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.