Pacer Advisors Inc. Purchases Shares of 13,752 Western Alliance Bancorporation $WAL

Pacer Advisors Inc. purchased a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 13,752 shares of the financial services provider’s stock, valued at approximately $1,193,000.

Several other hedge funds also recently modified their holdings of WAL. GAMMA Investing LLC raised its holdings in Western Alliance Bancorporation by 6.2% during the second quarter. GAMMA Investing LLC now owns 2,317 shares of the financial services provider’s stock worth $181,000 after acquiring an additional 136 shares in the last quarter. EJF Capital LLC grew its stake in Western Alliance Bancorporation by 2.5% in the second quarter. EJF Capital LLC now owns 6,223 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 149 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Western Alliance Bancorporation by 4.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,833 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 188 shares during the last quarter. Signaturefd LLC raised its stake in shares of Western Alliance Bancorporation by 14.8% during the 2nd quarter. Signaturefd LLC now owns 1,654 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 213 shares in the last quarter. Finally, Scotia Capital Inc. boosted its holdings in shares of Western Alliance Bancorporation by 1.3% in the 2nd quarter. Scotia Capital Inc. now owns 18,498 shares of the financial services provider’s stock valued at $1,443,000 after buying an additional 238 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on WAL shares. National Bankshares set a $118.00 target price on shares of Western Alliance Bancorporation in a report on Wednesday, September 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Western Alliance Bancorporation in a research report on Monday. TD Cowen began coverage on shares of Western Alliance Bancorporation in a report on Thursday, September 25th. They issued a “buy” rating and a $118.00 target price on the stock. Keefe, Bruyette & Woods cut their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Western Alliance Bancorporation from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $102.87.

Insiders Place Their Bets

In other news, CFO Dale Gibbons acquired 4,000 shares of the firm’s stock in a transaction on Thursday, October 30th. The shares were purchased at an average cost of $77.00 per share, with a total value of $308,000.00. Following the acquisition, the chief financial officer directly owned 300,358 shares in the company, valued at $23,127,566. This represents a 1.35% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.68% of the company’s stock.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $84.12 on Friday. The firm has a 50-day moving average of $81.79 and a 200-day moving average of $82.42. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 0.85. The stock has a market cap of $9.26 billion, a PE ratio of 10.40, a P/E/G ratio of 0.58 and a beta of 1.34. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $94.40.

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

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, November 13th. Western Alliance Bancorporation’s dividend payout ratio is 20.77%.

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.