Farther Finance Advisors LLC Reduces Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Farther Finance Advisors LLC decreased its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 86.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 487 shares of the financial services provider’s stock after selling 3,101 shares during the quarter. Farther Finance Advisors LLC’s holdings in Western Alliance Bancorporation were worth $42,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in Western Alliance Bancorporation in the first quarter worth approximately $27,000. V Square Quantitative Management LLC purchased a new position in shares of Western Alliance Bancorporation during the 3rd quarter worth $31,000. ORG Wealth Partners LLC acquired a new stake in shares of Western Alliance Bancorporation during the 3rd quarter worth about $33,000. ORG Partners LLC purchased a new stake in Western Alliance Bancorporation in the 2nd quarter valued at about $36,000. Finally, UMB Bank n.a. lifted its position in Western Alliance Bancorporation by 136.8% in the third 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 last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Down 1.0 %

NYSE:WAL opened at $91.87 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 52-week low of $47.54 and a 52-week high of $96.45. The stock’s 50 day moving average price is $85.30 and its 200 day moving average price is $74.10. The company has a market capitalization of $10.11 billion, a PE ratio of 14.33, a P/E/G ratio of 1.46 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $811.40 million. On average, research analysts anticipate that Western Alliance Bancorporation will post 7.13 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.65%. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 22.84%.

Analyst Upgrades and Downgrades

WAL has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Barclays upped their target price on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research note on Friday, October 18th. Truist Financial dropped 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 research report on Monday, October 21st. Finally, 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 research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Western Alliance Bancorporation has an average rating of “Moderate Buy” and a consensus price target of $92.73.

Insider Activity at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of the company’s 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 owns 7,977 shares in the company, valued at approximately $650,843.43. This represents a 58.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the sale, the director now directly owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 42.48 % decrease in their position. The disclosure for this sale can be found here. 2.75% of the stock is currently owned by insiders.

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.