Western Alliance Bancorporation $WAL Holdings Cut by First Trust Advisors LP

First Trust Advisors LP reduced its stake in Western Alliance Bancorporation (NYSE:WAL) by 31.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 355,252 shares of the financial services provider’s stock after selling 159,781 shares during the period. First Trust Advisors LP’s holdings in Western Alliance Bancorporation were worth $27,703,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WAL. Hantz Financial Services Inc. boosted its position in Western Alliance Bancorporation by 995.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 526 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 478 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Western Alliance Bancorporation by 241.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 713 shares of the financial services provider’s stock worth $56,000 after buying an additional 504 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Western Alliance Bancorporation during the first quarter worth approximately $58,000. National Bank of Canada FI lifted its holdings in shares of Western Alliance Bancorporation by 22.7% in the first quarter. National Bank of Canada FI now owns 763 shares of the financial services provider’s stock valued at $59,000 after buying an additional 141 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Western Alliance Bancorporation by 128.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 840 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 472 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CFO Dale Gibbons purchased 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was acquired at an average cost of $77.00 per share, with a total value of $308,000.00. Following the completion of the acquisition, the chief financial officer directly owned 300,358 shares of the company’s stock, valued at $23,127,566. This represents a 1.35% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.68% of the company’s stock.

Western Alliance Bancorporation Trading Up 4.9%

Shares of WAL opened at $86.95 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61. The stock has a 50 day simple moving average of $79.66 and a 200-day simple moving average of $81.02. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $94.40. The stock has a market cap of $9.57 billion, a PE ratio of 10.75, a PEG ratio of 0.57 and a beta of 1.37.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Wednesday, February 14th. The financial services provider reported $1.91 EPS for the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 12.93%. The company had revenue of $718.00 million for the quarter. On average, sell-side analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.9%. The ex-dividend date was Thursday, November 13th. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. Western Alliance Bancorporation’s dividend payout ratio is presently 20.77%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WAL shares. Citigroup reiterated a “neutral” rating on shares of Western Alliance Bancorporation in a research report on Tuesday, August 26th. Wells Fargo & Company reduced their price target on Western Alliance Bancorporation from $90.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, October 23rd. Industrial Alliance Securities set a $95.00 price objective on shares of Western Alliance Bancorporation in a report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Western Alliance Bancorporation in a report on Tuesday, December 2nd. Finally, UBS Group dropped their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Western Alliance Bancorporation has an average rating of “Moderate Buy” and a consensus target price of $100.53.

Western Alliance Bancorporation Profile

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.