DekaBank Deutsche Girozentrale Sells 565 Shares of Western Alliance Bancorporation (NYSE:WAL)

DekaBank Deutsche Girozentrale reduced its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 16.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,851 shares of the financial services provider’s stock after selling 565 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Western Alliance Bancorporation were worth $173,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new position in Western Alliance Bancorporation during the 4th quarter valued at about $67,758,000. Cincinnati Insurance Co. purchased a new position in shares of Western Alliance Bancorporation during the first quarter valued at approximately $46,538,000. Price T Rowe Associates Inc. MD lifted its stake 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 valued at $328,165,000 after acquiring an additional 717,242 shares in the last quarter. Vanguard Group Inc. lifted its stake in Western Alliance Bancorporation by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock valued at $670,170,000 after acquiring an additional 395,101 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Western Alliance Bancorporation by 176.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 594,469 shares of the financial services provider’s stock worth $39,110,000 after acquiring an additional 379,245 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Trading Down 0.8 %

Shares of WAL stock opened at $87.69 on Friday. The stock has a market capitalization of $9.66 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.56 and a beta of 1.44. The company’s fifty day simple moving average is $78.38 and its two-hundred day simple moving average is $66.96. Western Alliance Bancorporation has a 1 year low of $38.81 and a 1 year high of $88.92. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.88 and a quick ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. Western Alliance Bancorporation had a return on equity of 13.98% and a net margin of 15.54%. The company had revenue of $771.80 million for the quarter, compared to analyst estimates of $737.97 million. During the same period in the previous year, the company posted $1.96 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, analysts anticipate that Western Alliance Bancorporation will post 7.4 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

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. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.48 annualized dividend and a yield of 1.69%. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%.

Insider Buying and Selling

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the firm’s 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 completion of the transaction, the director now directly owns 4,056 shares of the company’s stock, valued at approximately $335,634. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Robert P. Latta sold 2,996 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the sale, the director now owns 4,056 shares in the company, valued at $335,634. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen Russell Curley sold 5,070 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $76.43, for a total value of $387,500.10. Following the transaction, the insider now owns 36,718 shares of the company’s stock, valued at $2,806,356.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,265 shares of company stock valued at $1,700,391. Company insiders own 2.75% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Wells Fargo & Company upped their target price on Western Alliance Bancorporation from $68.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Truist Financial lifted their price target on Western Alliance Bancorporation from $88.00 to $100.00 and gave the stock a “buy” rating in a report on Friday. Barclays upped their price objective on Western Alliance Bancorporation from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Finally, Bank of America lifted their target price on Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. According to 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.