Atria Investments Inc Grows Stake in Western Alliance Bancorporation $WAL

Atria Investments Inc grew its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 9.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,564 shares of the financial services provider’s stock after acquiring an additional 1,169 shares during the quarter. Atria Investments Inc’s holdings in Western Alliance Bancorporation were worth $1,058,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WAL. Nuveen LLC bought a new stake in Western Alliance Bancorporation in the first quarter valued at $45,486,000. FJ Capital Management LLC lifted its position in shares of Western Alliance Bancorporation by 824.8% in the 1st quarter. FJ Capital Management LLC now owns 442,507 shares of the financial services provider’s stock worth $33,998,000 after purchasing an additional 394,660 shares during the period. Invesco Ltd. boosted its stake in shares of Western Alliance Bancorporation by 5.9% during the 1st quarter. Invesco Ltd. now owns 6,076,021 shares of the financial services provider’s stock valued at $466,821,000 after purchasing an additional 339,758 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Western Alliance Bancorporation during the second quarter valued at about $20,390,000. Finally, Voya Investment Management LLC increased its position in shares of Western Alliance Bancorporation by 23.4% during the first quarter. Voya Investment Management LLC now owns 676,575 shares of the financial services provider’s stock valued at $51,981,000 after buying an additional 128,362 shares during the period. Institutional investors own 79.15% of the company’s stock.

Analyst Ratings Changes

WAL has been the topic of several research reports. Keefe, Bruyette & Woods cut their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. DA Davidson lifted their price target on Western Alliance Bancorporation from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, July 21st. UBS Group decreased their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday. Wall Street Zen upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, TD Cowen initiated coverage on shares of Western Alliance Bancorporation in a research report on Thursday, September 25th. They issued a “buy” rating and a $118.00 target price on the stock. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.53.

Insider Buying and Selling at Western Alliance Bancorporation

In other news, CFO Dale Gibbons acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The stock was bought at an average cost of $77.00 per share, for a total transaction of $308,000.00. Following the acquisition, the chief financial officer directly owned 300,358 shares in the company, valued at approximately $23,127,566. The trade was a 1.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 2.75% of the stock is owned by company insiders.

Western Alliance Bancorporation Trading Up 0.2%

NYSE WAL opened at $78.64 on Friday. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $98.10. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average price is $83.75 and its 200-day moving average price is $79.71. The stock has a market cap of $8.68 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.52 and a beta of 1.45.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter. Western Alliance Bancorporation had a return on equity of 12.93% and a net margin of 17.14%.The firm had revenue of $718.00 million during the quarter. As a group, equities analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, November 13th. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio is currently 18.79%.

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.