WINTON GROUP Ltd Purchases Shares of 6,581 Western Alliance Bancorporation (NYSE:WAL)

WINTON GROUP Ltd acquired a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,581 shares of the financial services provider’s stock, valued at approximately $413,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in Western Alliance Bancorporation in the 1st quarter valued at about $27,000. GAMMA Investing LLC boosted its holdings in Western Alliance Bancorporation by 57.4% in the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 183 shares during the period. ORG Partners LLC bought a new position in Western Alliance Bancorporation in the 2nd quarter valued at $36,000. Chilton Capital Management LLC bought a new stake in shares of Western Alliance Bancorporation during the 2nd quarter worth $54,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Western Alliance Bancorporation by 26.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 244 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

Insider Buying and Selling at Western Alliance Bancorporation

In related news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the transaction, the director now owns 4,056 shares of the company’s stock, valued at approximately $335,634. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of the 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 completion of the transaction, the insider now directly owns 7,977 shares in the company, valued at $650,843.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction dated 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 approximately $335,634. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,265 shares of company stock worth $1,700,391. 2.75% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WAL shares. StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Bank of America boosted their price objective on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Truist Financial upped their target price on shares of Western Alliance Bancorporation from $74.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. upped their target price on shares of Western Alliance Bancorporation from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Western Alliance Bancorporation from $62.00 to $83.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $84.27.

Western Alliance Bancorporation Stock Up 2.0 %

Shares of NYSE:WAL opened at $84.85 on Thursday. The company has a market capitalization of $9.34 billion, a PE ratio of 12.37, a P/E/G ratio of 1.56 and a beta of 1.44. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Western Alliance Bancorporation has a twelve month low of $38.81 and a twelve month high of $86.84. The firm has a 50 day simple moving average of $77.54 and a 200-day simple moving average of $66.58.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. The business had revenue of $771.80 million for the quarter, compared to analysts’ expectations of $737.97 million. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 13.98%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.96 EPS. On average, equities analysts predict that Western Alliance Bancorporation will post 7.4 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.74%. The ex-dividend date was Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.57%.

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.