Sequoia Financial Advisors LLC Acquires New Position in Western Alliance Bancorporation (NYSE:WAL)

Sequoia Financial Advisors LLC acquired a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,884 shares of the financial services provider’s stock, valued at approximately $249,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Toth Financial Advisory Corp boosted its holdings in Western Alliance Bancorporation by 2,117.8% in the 3rd quarter. Toth Financial Advisory Corp now owns 10,734 shares of the financial services provider’s stock valued at $928,000 after purchasing an additional 10,250 shares during the last quarter. Buckley Wealth Management LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at about $272,000. TriaGen Wealth Management LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at about $418,000. Blue Trust Inc. boosted its holdings in Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 187 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at about $31,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Trading Down 0.9 %

Shares of NYSE:WAL opened at $83.99 on Wednesday. Western Alliance Bancorporation has a 52 week low of $39.03 and a 52 week high of $94.28. The company’s 50 day moving average is $83.49 and its two-hundred day moving average is $71.82. 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 $9.25 billion, a PE ratio of 12.96, a P/E/G ratio of 1.29 and a beta of 1.44.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WAL. Jefferies Financial Group boosted their target price 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. Bank of America upped their price objective on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Truist Financial decreased their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Royal Bank of Canada set a $99.00 price objective on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and upped their price objective for the stock from $83.00 to $101.00 in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.60.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the 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 directly owns 4,056 shares of the company’s stock, valued at approximately $335,634. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Robert P. Latta sold 2,996 shares of the stock in a transaction 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 transaction, the director now directly owns 4,056 shares of the company’s stock, valued at $335,634. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Barbara Kennedy sold 11,083 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 7,977 shares in the company, valued at $650,843.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,149 shares of company stock valued at $1,539,681. 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.