Western Alliance Bancorporation (NYSE:WAL) Shares Acquired by LHM Inc.

LHM Inc. raised its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 55.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,554 shares of the financial services provider’s stock after acquiring an additional 18,740 shares during the period. Western Alliance Bancorporation makes up 1.4% of LHM Inc.’s holdings, making the stock its 14th largest position. LHM Inc.’s holdings in Western Alliance Bancorporation were worth $3,301,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Creative Planning raised its stake in Western Alliance Bancorporation by 6.1% during the 2nd quarter. Creative Planning now owns 5,756 shares of the financial services provider’s stock valued at $362,000 after acquiring an additional 330 shares in the last quarter. Algert Global LLC raised its stake in Western Alliance Bancorporation by 18.8% during the 2nd quarter. Algert Global LLC now owns 145,540 shares of the financial services provider’s stock valued at $9,143,000 after acquiring an additional 22,989 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Western Alliance Bancorporation by 0.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 523,425 shares of the financial services provider’s stock valued at $32,882,000 after acquiring an additional 4,801 shares in the last quarter. AQR Capital Management LLC raised its stake in Western Alliance Bancorporation by 119.5% during the 2nd quarter. AQR Capital Management LLC now owns 252,690 shares of the financial services provider’s stock valued at $15,596,000 after acquiring an additional 137,577 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Western Alliance Bancorporation by 13.8% in the 2nd quarter. Marshall Wace LLP now owns 961,412 shares of the financial services provider’s stock worth $60,396,000 after buying an additional 116,322 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Insider Transactions at Western Alliance Bancorporation

In related news, insider Stephen Russell Curley sold 5,070 shares of the stock in a transaction that occurred on 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 in the company, valued at $2,806,356.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Western Alliance Bancorporation news, insider Stephen Russell Curley sold 5,070 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total transaction of $387,500.10. Following the transaction, the insider now directly owns 36,718 shares of the company’s stock, valued at $2,806,356.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $904,261.97. Following the completion of the sale, the insider now directly owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. The disclosure for this sale can be found here. Insiders sold 21,265 shares of company stock valued at $1,700,391 in the last three months. Corporate insiders own 2.75% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on WAL shares. Jefferies Financial Group boosted their price objective on Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. StockNews.com downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price objective on Western Alliance Bancorporation from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Western Alliance Bancorporation from $62.00 to $83.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company boosted their price objective on 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.40.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock opened at $86.49 on Tuesday. Western Alliance Bancorporation has a 1-year low of $38.81 and a 1-year high of $88.92. 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 capitalization of $9.52 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 1.62 and a beta of 1.44. The stock’s fifty day simple moving average is $79.80 and its 200-day simple moving average is $68.18.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share 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 business had revenue of $771.80 million for the quarter, compared to the consensus estimate of $737.97 million. During the same quarter in the previous year, the company posted $1.96 earnings per share. Western Alliance Bancorporation’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, sell-side analysts predict that Western Alliance Bancorporation will post 7.4 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Friday, August 16th. Western Alliance Bancorporation’s payout ratio is currently 21.57%.

Western Alliance Bancorporation 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.