Western Alliance Bancorporation (NYSE:WAL) Shares Sold by US Bancorp DE


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US Bancorp DE lessened its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 17.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 19,509 shares of the financial services provider’s stock after selling 4,019 shares during the quarter. US Bancorp DE’s holdings in Western Alliance Bancorporation were worth $1,169,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Hexagon Capital Partners LLC acquired a new position in Western Alliance Bancorporation during the 3rd quarter worth $25,000. CI Investments Inc. bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth $43,000. Neo Ivy Capital Management raised its stake in shares of Western Alliance Bancorporation by 3,511.5% in the 3rd quarter. Neo Ivy Capital Management now owns 1,878 shares of the financial services provider’s stock worth $59,000 after buying an additional 1,826 shares in the last quarter. CENTRAL TRUST Co raised its stake in shares of Western Alliance Bancorporation by 38.8% in the 3rd quarter. CENTRAL TRUST Co now owns 1,912 shares of the financial services provider’s stock worth $60,000 after buying an additional 534 shares in the last quarter. Finally, MUFG Americas Holdings Corp bought a new stake in shares of Western Alliance Bancorporation in the 4th quarter worth $145,000. Institutional investors own 84.14% of the company’s stock.

In other news, Director Donald D. Snyder sold 6,250 shares of the stock in a transaction dated Thursday, December 10th. The stock was sold at an average price of $56.29, for a total transaction of $351,812.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.46% of the company’s stock.

WAL has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on Western Alliance Bancorporation from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, January 25th. Stephens reaffirmed an “overweight” rating and set a $51.00 target price on shares of Western Alliance Bancorporation in a research report on Wednesday, November 4th. Wedbush boosted their target price on Western Alliance Bancorporation from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 17th. UBS Group raised Western Alliance Bancorporation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $44.00 to $83.00 in a research report on Friday, January 8th. Finally, Truist boosted their target price on Western Alliance Bancorporation from $41.00 to $50.00 in a research report on Monday, November 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $67.45.

Shares of WAL stock opened at $92.18 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.95 and a quick ratio of 0.95. Western Alliance Bancorporation has a fifty-two week low of $20.90 and a fifty-two week high of $93.53. The stock’s 50-day moving average is $72.60 and its two-hundred day moving average is $51.08. The firm has a market cap of $9.29 billion, a P/E ratio of 21.69 and a beta of 1.76.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Wednesday, January 20th. The financial services provider reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.55. The business had revenue of $338.60 million for the quarter, compared to analyst estimates of $315.88 million. Western Alliance Bancorporation had a return on equity of 14.37% and a net margin of 32.82%. As a group, research analysts expect that Western Alliance Bancorporation will post 3.88 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 5th. Stockholders of record on Friday, February 19th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Thursday, February 18th. Western Alliance Bancorporation’s dividend payout ratio is 20.66%.

About Western Alliance Bancorporation

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

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Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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