Sanctuary Advisors LLC Invests $221,000 in Western Alliance Bancorporation (NYSE:WAL)

Sanctuary Advisors LLC acquired a new stake in Western Alliance Bancorporation (NYSE:WAL) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,760 shares of the financial services provider’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cincinnati Insurance Co. acquired a new position in shares of Western Alliance Bancorporation during the 1st quarter worth about $46,538,000. LHM Inc. increased its stake in Western Alliance Bancorporation by 2,141.1% in the second quarter. LHM Inc. now owns 757,809 shares of the financial services provider’s stock valued at $47,606,000 after purchasing an additional 723,995 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Western Alliance Bancorporation by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider’s stock worth $328,165,000 after purchasing an additional 717,242 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Western Alliance Bancorporation by 20.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock worth $233,832,000 after purchasing an additional 636,577 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Western Alliance Bancorporation by 3.9% in 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 buying an additional 395,101 shares during the period. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Stock Down 8.9 %

Shares of WAL stock opened at $85.53 on Monday. The firm’s fifty day moving average price is $82.58 and its two-hundred day moving average price is $70.65. Western Alliance Bancorporation has a 1 year low of $38.81 and a 1 year high of $94.28. 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 firm has a market capitalization of $9.42 billion, a P/E ratio of 13.20, a PEG ratio of 1.30 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.04. The business had revenue of $771.80 million for the quarter, compared to analyst estimates of $737.97 million. Western Alliance Bancorporation had a return on equity of 13.42% and a net margin of 14.66%. Western Alliance Bancorporation’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.96 earnings per share. On average, equities analysts predict that Western Alliance Bancorporation will post 7.39 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio is currently 22.84%.

Insider Activity

In related news, insider Barbara Kennedy sold 11,083 shares of the business’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 transaction, the insider now directly owns 7,977 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Stephen Russell Curley sold 5,070 shares of Western Alliance Bancorporation stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $76.43, for a total transaction of $387,500.10. Following the completion of the transaction, the insider now directly owns 36,718 shares in the company, valued at approximately $2,806,356.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Barbara Kennedy sold 11,083 shares of the business’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. In the last 90 days, insiders sold 19,149 shares of company stock valued at $1,539,681. 2.75% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on WAL shares. Truist Financial raised their price objective on Western Alliance Bancorporation from $88.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. raised their price target on Western Alliance Bancorporation from $100.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Wells Fargo & Company boosted their price objective on Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Wedbush raised their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Finally, StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus target price of $92.27.

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.