Campbell & CO Investment Adviser LLC Takes Position in Western Alliance Bancorporation $WAL

Campbell & CO Investment Adviser LLC bought a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 19,486 shares of the financial services provider’s stock, valued at approximately $1,520,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WAL. Hantz Financial Services Inc. lifted its holdings in Western Alliance Bancorporation by 995.8% during the second quarter. Hantz Financial Services Inc. now owns 526 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 478 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Western Alliance Bancorporation in the 1st quarter valued at about $58,000. National Bank of Canada FI boosted its holdings in Western Alliance Bancorporation by 22.7% in the 1st quarter. National Bank of Canada FI now owns 763 shares of the financial services provider’s stock worth $59,000 after buying an additional 141 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Western Alliance Bancorporation by 1,614.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,269 shares of the financial services provider’s stock worth $99,000 after buying an additional 1,195 shares during the last quarter. Finally, Signaturefd LLC increased its stake in Western Alliance Bancorporation by 14.8% during the 2nd quarter. Signaturefd LLC now owns 1,654 shares of the financial services provider’s stock worth $129,000 after buying an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

Western Alliance Bancorporation stock opened at $79.89 on Wednesday. The firm has a 50 day simple moving average of $83.17 and a 200-day simple moving average of $80.12. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 0.52 and a beta of 1.45. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.79. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $98.10.

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

Western Alliance Bancorporation Increases Dividend

The firm 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 represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 20.77%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Citigroup reaffirmed a “neutral” rating on shares of Western Alliance Bancorporation in a research note on Tuesday, August 26th. Truist Financial raised their price objective on Western Alliance Bancorporation from $92.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Weiss Ratings lowered shares of Western Alliance Bancorporation from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Piper Sandler raised their price target on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. Finally, TD Cowen began coverage on shares of Western Alliance Bancorporation in a research report on Thursday, September 25th. They set a “buy” rating and a $118.00 price target on the stock. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.53.

Insider Activity

In related news, CFO Dale Gibbons acquired 4,000 shares of Western Alliance Bancorporation stock in a transaction that occurred on Thursday, October 30th. The shares were purchased at an average cost of $77.00 per share, for a total transaction of $308,000.00. Following the acquisition, the chief financial officer owned 300,358 shares in the company, valued at approximately $23,127,566. This represents a 1.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.68% of the company’s stock.

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.