Jupiter Topco LLC purchased a new position in Western Alliance Bancorporation (NYSE:WAL – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,240,773 shares of the financial services provider’s stock, valued at approximately $101,995,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Independent Financial Group LLC purchased a new position in shares of Western Alliance Bancorporation in the first quarter worth approximately $924,000. Focus Partners Advisor Solutions LLC purchased a new stake in Western Alliance Bancorporation during the second quarter valued at approximately $1,877,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Western Alliance Bancorporation in the second quarter worth approximately $174,329,000. Northwestern Mutual Wealth Management Co. raised its position in Western Alliance Bancorporation by 2,313.2% in 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 acquiring an additional 18,112 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in shares of Western Alliance Bancorporation by 635.0% during the 1st quarter. Hsbc Holdings PLC now owns 48,366 shares of the financial services provider’s stock worth $3,409,000 after acquiring an additional 41,786 shares during the last quarter. 79.15% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, CAO Ben Mucha sold 5,946 shares of Western Alliance Bancorporation stock in a transaction on Monday, June 8th. The stock was 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 directly owned 3,485 shares in the company, valued at approximately $282,285. This trade represents a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.76% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Get Our Latest Analysis on WAL
Western Alliance Bancorporation Stock Up 0.0%
Shares of NYSE:WAL opened at $79.65 on Thursday. The firm has a market capitalization of $8.69 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 0.77 and a beta of 1.34. The business has a 50 day simple moving average of $81.34 and a two-hundred day simple moving average of $79.90. Western Alliance Bancorporation has a 1 year low of $65.82 and a 1 year high of $97.23. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.86 and a quick ratio of 0.81.
Western Alliance Bancorporation (NYSE:WAL – Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share for the quarter, hitting the consensus estimate of $2.36. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The firm had revenue of $995.70 million for the quarter, compared to the consensus estimate of $980.53 million. During the same period in the prior year, the business posted $2.07 earnings per share. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities analysts predict that Western Alliance Bancorporation will post 9.16 EPS for the current year.
Western Alliance Bancorporation Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be paid a $0.42 dividend. The ex-dividend date is Thursday, August 13th. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 18.92%.
Western Alliance Bancorporation 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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