GSA Capital Partners LLP purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL – Free Report) in the 2nd quarter, Holdings Channel reports. The fund purchased 24,946 shares of the financial services provider’s stock, valued at approximately $2,051,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clearstead Advisors LLC grew its stake in Western Alliance Bancorporation by 144.6% during the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock worth $35,000 after buying an additional 243 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Western Alliance Bancorporation in the fourth quarter valued at approximately $38,000. Compound Global Advisors LLC acquired a new position in shares of Western Alliance Bancorporation in the 2nd quarter worth approximately $41,000. Leonteq Securities AG bought a new stake in Western Alliance Bancorporation during the 4th quarter worth approximately $44,000. Finally, Allworth Financial LP increased its holdings in Western Alliance Bancorporation by 39.3% during the 4th quarter. Allworth Financial LP now owns 557 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 157 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, CAO Ben Mucha sold 5,946 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $81.00, for a total transaction of $481,626.00. Following the completion of the sale, the chief accounting officer owned 3,485 shares in the company, valued at $282,285. The trade was a 63.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.76% of the company’s stock.
Analysts Set New Price Targets
Western Alliance Bancorporation Trading Up 0.7%
WAL stock opened at $82.31 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 0.93. Western Alliance Bancorporation has a twelve month low of $65.82 and a twelve month high of $97.23. The company has a market cap of $8.98 billion, a P/E ratio of 9.27, a PEG ratio of 0.79 and a beta of 1.34. The business has a fifty day moving average of $81.57 and a 200-day moving average of $80.53.
Western Alliance Bancorporation (NYSE:WAL – Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.36. The business had revenue of $995.70 million for the quarter, compared to analysts’ expectations of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.07 earnings per share. As a group, equities research analysts expect that Western Alliance Bancorporation will post 9.16 EPS for the current year.
Western Alliance Bancorporation Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, August 13th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 18.92%.
Western Alliance Bancorporation Company Profile
Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.
The company’s core offerings include deposit products, treasury management and a variety of lending services.
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