Hsbc Holdings PLC grew its position in Western Alliance Bancorporation (NYSE:WAL – Free Report) by 635.0% during the first quarter, Holdings Channel.com reports. The firm owned 48,366 shares of the financial services provider’s stock after acquiring an additional 41,786 shares during the period. Hsbc Holdings PLC’s holdings in Western Alliance Bancorporation were worth $3,409,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of WAL. M&T Bank Corp lifted its holdings in Western Alliance Bancorporation by 7,920.9% during the 4th quarter. M&T Bank Corp now owns 315,624 shares of the financial services provider’s stock worth $26,535,000 after buying an additional 311,689 shares during the last quarter. Perpetual Ltd raised its position in shares of Western Alliance Bancorporation by 55.7% during the 4th quarter. Perpetual Ltd now owns 557,894 shares of the financial services provider’s stock worth $46,902,000 after acquiring an additional 199,591 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Western Alliance Bancorporation by 2,313.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 18,895 shares of the financial services provider’s stock worth $1,589,000 after purchasing an additional 18,112 shares during the last quarter. Generate Investment Management Ltd lifted its stake in Western Alliance Bancorporation by 14.3% during the fourth quarter. Generate Investment Management Ltd now owns 160,000 shares of the financial services provider’s stock worth $13,451,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Oak Thistle LLC acquired a new position in Western Alliance Bancorporation in the fourth quarter valued at approximately $1,393,000. Institutional investors and hedge funds own 79.15% of the company’s stock.
Western Alliance Bancorporation Trading Up 0.0%
Shares of Western Alliance Bancorporation stock opened at $83.01 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.81 and a current ratio of 0.85. The company has a market capitalization of $9.06 billion, a P/E ratio of 9.35, a PEG ratio of 0.75 and a beta of 1.34. Western Alliance Bancorporation has a 1 year low of $65.82 and a 1 year high of $97.23. The company’s fifty day moving average is $80.57 and its two-hundred day moving average is $81.22.
Western Alliance Bancorporation Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.0%. The ex-dividend date was Thursday, May 14th. Western Alliance Bancorporation’s payout ratio is 18.92%.
Insiders Place Their Bets
In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $81.00, for a total value of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares in the company, valued at approximately $282,285. This trade represents a 63.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.76% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. Barclays dropped their price target on shares of Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Piper Sandler increased their target price on shares of Western Alliance Bancorporation from $92.00 to $97.00 and gave the company an “overweight” rating in a research report on Friday. DA Davidson set a $36.00 price target on shares of Western Alliance Bancorporation in a research report on Wednesday. Keefe, Bruyette & Woods raised their price objective on Western Alliance Bancorporation from $93.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Finally, Stifel Nicolaus set a $95.00 target price on Western Alliance Bancorporation in a research report on Thursday. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.71.
Get Our Latest Research Report on Western Alliance Bancorporation
About Western Alliance Bancorporation
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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Want to see what other hedge funds are holding WAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Alliance Bancorporation (NYSE:WAL – Free Report).
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