Western Alliance Bancorporation (NYSE:WAL) Shares Sold by National Bank of Canada FI

National Bank of Canada FI reduced its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 38.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 884 shares of the financial services provider’s stock after selling 551 shares during the quarter. National Bank of Canada FI’s holdings in Western Alliance Bancorporation were worth $76,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth $31,000. ORG Wealth Partners LLC acquired a new position in Western Alliance Bancorporation during the third quarter worth about $33,000. UMB Bank n.a. grew its position in shares of 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 purchasing an additional 249 shares during the last quarter. Blue Trust Inc. increased its stake in shares of 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 purchasing an additional 187 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of Western Alliance Bancorporation by 167.5% during the 3rd quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 397 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Price Performance

WAL stock opened at $88.27 on Wednesday. The company has a market cap of $9.72 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 1.41 and a beta of 1.45. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $89.32 and a two-hundred day moving average price of $79.12. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. As a group, research analysts predict that Western Alliance Bancorporation will post 7.14 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.72%. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio is presently 23.46%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Piper Sandler reduced their target price on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Barclays increased their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. UBS Group initiated coverage on shares of Western Alliance Bancorporation in a research note on Tuesday. They issued a “buy” rating and a $115.00 target price for the company. Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Truist Financial cut their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.75.

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.