Creative Planning Purchases 1,087 Shares of Western Alliance Bancorporation (NYSE:WAL)

Creative Planning boosted its position in Western Alliance Bancorporation (NYSE:WAL) by 18.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,843 shares of the financial services provider’s stock after acquiring an additional 1,087 shares during the period. Creative Planning’s holdings in Western Alliance Bancorporation were worth $592,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of 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 in the last quarter. SG Americas Securities LLC increased its position in shares of Western Alliance Bancorporation by 1,706.9% during the first quarter. SG Americas Securities LLC now owns 30,898 shares of the financial services provider’s stock valued at $1,983,000 after buying an additional 29,188 shares during the period. M&G Plc grew its position in shares of Western Alliance Bancorporation by 12.4% during the 2nd quarter. M&G Plc now owns 133,670 shares of the financial services provider’s stock valued at $8,421,000 after purchasing an additional 14,734 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Western Alliance Bancorporation by 1.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,633,261 shares of the financial services provider’s stock valued at $102,603,000 after acquiring an additional 20,254 shares during the last quarter. Finally, First Hawaiian Bank purchased a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at $474,000. Institutional investors own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

WAL has been the topic of a number of recent research reports. Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a research report on Friday, October 18th. Stephens reissued an “overweight” rating and set a $102.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. Barclays reduced their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their price objective on Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, Bank of America raised their target price on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.60.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL opened at $82.41 on Tuesday. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.30 and a beta of 1.44. The firm has a 50-day simple moving average of $83.80 and a 200-day simple moving average of $72.60. Western Alliance Bancorporation has a 52 week low of $43.20 and a 52 week high of $94.28. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.07.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.84%. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 22.84%.

Insider Activity at Western Alliance Bancorporation

In related news, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $81.59, for a total value of $904,261.97. Following the completion of the transaction, the insider now owns 7,977 shares in the company, valued at $650,843.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Barbara Kennedy sold 11,083 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the transaction, the insider now directly owns 7,977 shares in the company, valued at approximately $650,843.43. This trade represents a 0.00 % decrease in their ownership of the stock. 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 Western Alliance Bancorporation stock in a transaction that occurred on Monday, September 9th. The shares were 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 $335,634. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.75% of the company’s stock.

About Western Alliance Bancorporation

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.