Wealth Enhancement Advisory Services LLC Takes $253,000 Position in Western Alliance Bancorporation (NYSE:WAL)

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,921 shares of the financial services provider’s stock, valued at approximately $253,000.

A number of other large investors have also made changes to their positions in WAL. Allspring Global Investments Holdings LLC acquired a new position in Western Alliance Bancorporation in the 1st quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at approximately $33,000. ORG Partners LLC acquired a new position in Western Alliance Bancorporation in the 2nd quarter valued at approximately $36,000. Finally, UMB Bank n.a. increased its stake in Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after buying an additional 249 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

Insider Activity

In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of the business’s stock in a transaction dated 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 owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the transaction, the director now directly owns 4,056 shares in the company, valued at approximately $335,634. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the transaction, the insider now directly owns 7,977 shares in the company, valued at $650,843.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.75% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on WAL shares. Bank of America boosted their target price on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Wedbush boosted their target price 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. Barclays upped their price objective on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday. Piper Sandler decreased their price objective on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, Stephens reaffirmed an “overweight” rating and set a $102.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, October 18th. 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

Western Alliance Bancorporation Stock Up 4.0 %

Shares of NYSE WAL opened at $93.42 on Tuesday. The firm has a market capitalization of $10.28 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.42 and a beta of 1.44. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 1 year low of $43.20 and a 1 year high of $96.45. The firm’s 50-day moving average is $84.55 and its 200-day moving average is $73.48.

Western Alliance Bancorporation (NYSE:WAL) last posted 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 net margin of 14.66% and a return on equity of 13.16%. The business had revenue of $833.10 million during the quarter, compared to analyst estimates of $811.40 million. Equities analysts expect that Western Alliance Bancorporation will post 7.13 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s payout ratio is presently 23.46%.

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.