Western Alliance Bancorporation $WAL Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS grew its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 22,000 shares of the financial services provider’s stock after purchasing an additional 700 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Western Alliance Bancorporation were worth $1,716,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of Western Alliance Bancorporation by 5.9% in the 1st quarter. Invesco Ltd. now owns 6,076,021 shares of the financial services provider’s stock worth $466,821,000 after acquiring an additional 339,758 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Western Alliance Bancorporation by 0.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,604,755 shares of the financial services provider’s stock worth $276,954,000 after acquiring an additional 26,995 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Western Alliance Bancorporation by 3.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,971,205 shares of the financial services provider’s stock worth $153,715,000 after acquiring an additional 62,202 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Western Alliance Bancorporation by 0.3% in the 1st quarter. Northern Trust Corp now owns 914,816 shares of the financial services provider’s stock worth $70,285,000 after acquiring an additional 2,762 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of Western Alliance Bancorporation by 23.4% in the 1st quarter. Voya Investment Management LLC now owns 676,575 shares of the financial services provider’s stock worth $51,981,000 after acquiring an additional 128,362 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WAL has been the topic of a number of recent research reports. TD Cowen initiated coverage on Western Alliance Bancorporation in a report on Thursday, September 25th. They issued a “buy” rating and a $118.00 target price on the stock. Wells Fargo & Company restated an “underweight” rating on shares of Western Alliance Bancorporation in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on Western Alliance Bancorporation from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Barclays reaffirmed an “overweight” rating on shares of Western Alliance Bancorporation in a research report on Wednesday. Finally, Piper Sandler raised their target price on Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.14.

Insider Transactions at Western Alliance Bancorporation

In related news, insider Tim R. Bruckner sold 2,500 shares of Western Alliance Bancorporation stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $83.91, for a total transaction of $209,775.00. Following the completion of the sale, the insider owned 24,759 shares of the company’s stock, valued at approximately $2,077,527.69. This trade represents a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Price Performance

WAL opened at $74.87 on Monday. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 0.54 and a beta of 1.35. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $98.10. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. The stock has a fifty day moving average price of $85.81 and a 200 day moving average price of $78.44.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter. The firm had revenue of $718.00 million during the quarter. Western Alliance Bancorporation had a return on equity of 12.62% and a net margin of 16.39%. Analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Thursday, August 14th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.0%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 19.97%.

About Western Alliance Bancorporation

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.