Cwm LLC Sells 2,636 Shares of Western Alliance Bancorporation (NYSE:WAL)

Cwm LLC reduced its stake in Western Alliance Bancorporation (NYSE:WAL) by 48.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,754 shares of the financial services provider’s stock after selling 2,636 shares during the period. Cwm LLC’s holdings in Western Alliance Bancorporation were worth $238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Western Alliance Bancorporation in the 1st quarter worth approximately $27,000. GAMMA Investing LLC raised its holdings in Western Alliance Bancorporation by 57.4% in the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 183 shares in the last quarter. ORG Partners LLC purchased a new position in Western Alliance Bancorporation during the second quarter valued at $36,000. Chilton Capital Management LLC bought a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at $54,000. Finally, Versant Capital Management Inc grew its position in shares of Western Alliance Bancorporation by 26.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider’s stock worth $73,000 after buying an additional 244 shares during the period. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Stephens reissued an “overweight” rating and set a $102.00 price target on shares of Western Alliance Bancorporation in a research report on Friday, October 18th. Barclays lowered their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday. StockNews.com downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Royal Bank of Canada set a $99.00 price objective on Western Alliance Bancorporation and gave the company an “outperform” rating in a research note on Friday. Finally, Wells Fargo & Company boosted their target price on Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $92.60.

Insider Activity

In related news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation 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 completion of the sale, the director now owns 4,056 shares of the company’s stock, valued at $335,634. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $335,634. This represents 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 the SEC website. Also, 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 transaction of $387,500.10. Following the completion of the transaction, the insider now owns 36,718 shares in the company, valued at $2,806,356.74. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,149 shares of company stock valued at $1,539,681 in the last ninety days. 2.75% of the stock is currently owned by company insiders.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock opened at $82.44 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.07. The company has a 50 day moving average price of $82.89 and a 200-day moving average price of $70.95. Western Alliance Bancorporation has a 52 week low of $38.81 and a 52 week high of $94.28. The firm has a market capitalization of $9.08 billion, a PE ratio of 12.72, a P/E/G ratio of 1.30 and a beta of 1.44.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders 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 dividend on an annualized basis and a yield of 1.80%. Western Alliance Bancorporation’s dividend payout ratio is presently 22.84%.

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.