Pathstone Holdings LLC Acquires 2,509 Shares of Western Alliance Bancorporation (NYSE:WAL)

Pathstone Holdings LLC boosted its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 13.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,701 shares of the financial services provider’s stock after acquiring an additional 2,509 shares during the period. Pathstone Holdings LLC’s holdings in Western Alliance Bancorporation were worth $1,877,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. M&G Plc lifted its position in Western Alliance Bancorporation by 12.4% during the second quarter. M&G Plc now owns 133,670 shares of the financial services provider’s stock worth $8,421,000 after purchasing an additional 14,734 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings 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 worth $102,603,000 after acquiring an additional 20,254 shares during the period. First Hawaiian Bank acquired a new stake in shares of Western Alliance Bancorporation during the 2nd quarter worth approximately $474,000. Mutual of America Capital Management LLC bought a new position in Western Alliance Bancorporation in the third quarter valued at approximately $5,099,000. Finally, Bank of Montreal Can increased its stake in Western Alliance Bancorporation by 41.4% in the second quarter. Bank of Montreal Can now owns 596,262 shares of the financial services provider’s stock valued at $37,475,000 after acquiring an additional 174,682 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WAL shares. Barclays boosted their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Stephens restated an “overweight” rating and issued a $102.00 price target on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Truist Financial cut their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, Wells Fargo & Company increased their price target on Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. 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 company. Based on data from MarketBeat, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and an average price target of $92.73.

Western Alliance Bancorporation Trading Down 1.7 %

NYSE WAL opened at $94.03 on Wednesday. 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 business has a fifty day simple moving average of $87.29 and a 200 day simple moving average of $76.14. Western Alliance Bancorporation has a 12 month low of $47.60 and a 12 month high of $98.10. The firm has a market capitalization of $10.35 billion, a P/E ratio of 14.51, a PEG ratio of 1.47 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $811.40 million. On average, analysts predict that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.38 dividend. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, November 15th. This represents a $1.52 annualized dividend and a yield of 1.62%. Western Alliance Bancorporation’s payout ratio is currently 23.46%.

Insider Buying and Selling at Western Alliance Bancorporation

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 shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the sale, the director now owns 4,056 shares of the company’s stock, valued at $335,634. The trade was a 42.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate 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.