XTX Topco Ltd Buys 11,448 Shares of Western Alliance Bancorporation (NYSE:WAL)

XTX Topco Ltd boosted its stake in Western Alliance Bancorporation (NYSE:WAL) by 170.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,162 shares of the financial services provider’s stock after purchasing an additional 11,448 shares during the quarter. XTX Topco Ltd’s holdings in Western Alliance Bancorporation were worth $1,141,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in WAL. Vanguard Group Inc. boosted its position in shares of Western Alliance Bancorporation by 3.9% in the first 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 during the period. Price T Rowe Associates Inc. MD boosted its holdings in Western Alliance Bancorporation by 16.3% in 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 purchasing an additional 717,242 shares during the period. Dimensional Fund Advisors LP grew its position in shares of 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 valued at $233,832,000 after purchasing an additional 636,577 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Western Alliance Bancorporation by 0.7% in the second quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider’s stock worth $176,764,000 after buying an additional 20,876 shares in the last quarter. Finally, Hood River Capital Management LLC raised its position in shares of Western Alliance Bancorporation by 5.9% in the first quarter. Hood River Capital Management LLC now owns 1,641,660 shares of the financial services provider’s stock worth $105,378,000 after buying an additional 91,535 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Insider Transactions at Western Alliance Bancorporation

In related news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $75.95, for a total transaction of $160,710.20. Following the completion of the transaction, the chief accounting officer now owns 3,520 shares in the company, valued at $267,344. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Barbara Kennedy sold 11,083 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the transaction, the insider now owns 7,977 shares in the company, valued at $650,843.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $75.95, for a total transaction of $160,710.20. Following the completion of the sale, the chief accounting officer now owns 3,520 shares of the company’s stock, valued at $267,344. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,265 shares of company stock worth $1,700,391. 2.75% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WAL. StockNews.com cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Wells Fargo & Company boosted their price target on shares of Western Alliance Bancorporation from $68.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Bank of America raised their price objective on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Royal Bank of Canada increased their target price on Western Alliance Bancorporation from $78.00 to $87.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Western Alliance Bancorporation from $62.00 to $83.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.07.

Western Alliance Bancorporation Stock Down 0.8 %

Shares of Western Alliance Bancorporation stock opened at $87.69 on Friday. The company’s 50 day moving average price is $78.38 and its 200-day moving average price is $66.96. Western Alliance Bancorporation has a 52-week low of $38.81 and a 52-week high of $88.92. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.88. The stock has a market capitalization of $9.66 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 1.56 and a beta of 1.44.

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. The firm had revenue of $771.80 million for the quarter, compared to analysts’ expectations of $737.97 million. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 13.98%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.96 earnings per share. Equities research analysts forecast that Western Alliance Bancorporation will post 7.4 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a 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%.

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.