Private Advisor Group LLC Lowers Stake in Western Alliance Bancorporation (NYSE:WAL)

Private Advisor Group LLC lowered its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 36.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,056 shares of the financial services provider’s stock after selling 2,279 shares during the quarter. Private Advisor Group LLC’s holdings in Western Alliance Bancorporation were worth $351,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in WAL. Vanguard Group Inc. raised its position in shares of Western Alliance Bancorporation by 3.9% during 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 buying an additional 395,101 shares during the last quarter. SG Americas Securities LLC increased its position in Western Alliance Bancorporation by 1,706.9% in the first quarter. SG Americas Securities LLC now owns 30,898 shares of the financial services provider’s stock worth $1,983,000 after purchasing an additional 29,188 shares during the last quarter. M&G Plc increased its position in Western Alliance Bancorporation by 12.4% in the second quarter. M&G Plc now owns 133,670 shares of the financial services provider’s stock worth $8,421,000 after purchasing an additional 14,734 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Western Alliance Bancorporation by 1.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,633,261 shares of the financial services provider’s stock worth $102,603,000 after purchasing an additional 20,254 shares during the last quarter. Finally, First Hawaiian Bank bought a new stake in Western Alliance Bancorporation in the second quarter worth $474,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

Shares of Western Alliance Bancorporation stock opened at $84.63 on Wednesday. The company has a market capitalization of $9.32 billion, a PE ratio of 13.06, a P/E/G ratio of 1.31 and a beta of 1.44. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The company has a 50-day simple moving average of $83.88 and a two-hundred day simple moving average of $72.79. Western Alliance Bancorporation has a one year low of $43.20 and a one year high of $94.28.

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.38 dividend. The ex-dividend date is Friday, November 15th. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 1.80%. Western Alliance Bancorporation’s payout ratio is currently 22.84%.

Insider Activity

In other news, insider Barbara Kennedy sold 11,083 shares of the company’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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Barbara Kennedy sold 11,083 shares of the company’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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert P. Latta sold 2,996 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the transaction, the director now owns 4,056 shares in the company, valued at approximately $335,634. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Royal Bank of Canada set a $99.00 price objective on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a research report on Friday, October 18th. Wells Fargo & Company boosted their price objective on shares of 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. Piper Sandler lowered their target price on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Finally, StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $92.60.

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.