Thrivent Financial for Lutherans Has $169.31 Million Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Thrivent Financial for Lutherans trimmed its position in Western Alliance Bancorporation (NYSE:WAL) by 5.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,695,176 shares of the financial services provider’s stock after selling 151,152 shares during the period. Thrivent Financial for Lutherans owned approximately 2.45% of Western Alliance Bancorporation worth $169,311,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WAL. Norges Bank acquired a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at approximately $67,758,000. Cincinnati Insurance Co. acquired a new stake in shares of Western Alliance Bancorporation in the 1st quarter valued at approximately $46,538,000. LHM Inc. raised its holdings in Western Alliance Bancorporation by 2,141.1% during the 2nd quarter. LHM Inc. now owns 757,809 shares of the financial services provider’s stock worth $47,606,000 after buying an additional 723,995 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Western Alliance Bancorporation by 16.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider’s stock worth $328,165,000 after buying an additional 717,242 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Western Alliance Bancorporation by 20.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock worth $233,832,000 after buying an additional 636,577 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Down 0.8 %

Shares of NYSE WAL opened at $87.69 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market cap of $9.66 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.56 and a beta of 1.44. Western Alliance Bancorporation has a 12 month low of $38.81 and a 12 month high of $88.92. The stock has a 50-day moving average price of $78.38 and a two-hundred day moving average price of $66.96.

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

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 21.57%.

Insider Transactions at Western Alliance Bancorporation

In related news, insider Stephen Russell Curley sold 5,070 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $76.43, for a total value of $387,500.10. Following the sale, the insider now directly owns 36,718 shares in the company, valued at $2,806,356.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Stephen Russell Curley sold 5,070 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $76.43, for a total value of $387,500.10. Following the sale, the insider now directly owns 36,718 shares in the company, valued at $2,806,356.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $75.95, for a total value of $160,710.20. Following the completion of the sale, the chief accounting officer now owns 3,520 shares in the company, valued at $267,344. 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. Insiders own 2.75% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on WAL shares. StockNews.com downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft lifted 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. Jefferies Financial Group lifted their price objective on shares of Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Barclays lifted their price objective on shares of Western Alliance Bancorporation from $86.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Finally, Royal Bank of Canada lifted their price objective on shares of Western Alliance Bancorporation from $78.00 to $87.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.07.

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.