Victory Capital Management Inc. Has $1.57 Million Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Victory Capital Management Inc. lifted its stake in Western Alliance Bancorporation (NYSE:WAL) by 25.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,101 shares of the financial services provider’s stock after acquiring an additional 3,662 shares during the period. Victory Capital Management Inc.’s holdings in Western Alliance Bancorporation were worth $1,566,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Western Alliance Bancorporation in the third quarter valued at $31,000. ORG Wealth Partners LLC bought a new position in Western Alliance Bancorporation in the 3rd quarter valued at $33,000. UMB Bank n.a. raised its holdings in Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 249 shares during the last quarter. Blue Trust Inc. lifted its holdings in Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after buying an additional 187 shares during the period. Finally, ORG Partners LLC acquired a new stake in shares of Western Alliance Bancorporation during the second quarter worth $36,000. 79.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced 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 report on Monday, October 21st. Wells Fargo & Company lifted their target price on Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Piper Sandler dropped their target price on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Barclays increased their price objective on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, Wedbush raised their price target 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.73.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL opened at $95.73 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. Western Alliance Bancorporation has a one year low of $47.60 and a one year high of $98.10. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 1.47 and a beta of 1.44. The firm has a 50 day simple moving average of $87.08 and a 200 day simple moving average of $75.92.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results 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). The business had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. Research analysts predict 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 declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.38 per share. 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 1.59%. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio is 23.46%.

Insiders Place Their Bets

In other news, 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 transaction of $247,919.00. Following the completion of the sale, the director now owns 4,056 shares in the company, valued at $335,634. The trade was a 42.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.75% of the stock is currently owned by corporate insiders.

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.