Western Alliance Bancorporation $WAL Shares Sold by Brant Point Investment Management LLC

Brant Point Investment Management LLC decreased its stake in Western Alliance Bancorporation (NYSE:WAL) by 81.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,124 shares of the financial services provider’s stock after selling 23,000 shares during the period. Brant Point Investment Management LLC’s holdings in Western Alliance Bancorporation were worth $431,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Western Alliance Bancorporation by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 3,674,518 shares of the financial services provider’s stock valued at $318,655,000 after purchasing an additional 58,535 shares during the period. Hudson Bay Capital Management LP acquired a new stake in shares of Western Alliance Bancorporation in the third quarter valued at about $13,339,000. M&T Bank Corp lifted its stake in shares of Western Alliance Bancorporation by 7,920.9% in the fourth quarter. M&T Bank Corp now owns 315,624 shares of the financial services provider’s stock valued at $26,535,000 after purchasing an additional 311,689 shares during the period. William Blair Investment Management LLC lifted its stake in shares of Western Alliance Bancorporation by 3.5% in the third quarter. William Blair Investment Management LLC now owns 2,394,722 shares of the financial services provider’s stock valued at $207,670,000 after purchasing an additional 81,386 shares during the period. Finally, MidWestOne Financial Group Inc. lifted its stake in shares of Western Alliance Bancorporation by 42.4% in the third quarter. MidWestOne Financial Group Inc. now owns 36,559 shares of the financial services provider’s stock valued at $3,170,000 after purchasing an additional 10,887 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Up 1.4%

Shares of NYSE WAL opened at $83.47 on Friday. Western Alliance Bancorporation has a 12-month low of $65.82 and a 12-month high of $97.23. The company has a market capitalization of $9.11 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 0.64 and a beta of 1.34. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.86 and a quick ratio of 0.81. The firm’s 50-day moving average is $78.46 and its two-hundred day moving average is $81.93.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.74. The business had revenue of $968.40 million during the quarter, compared to analyst estimates of $944.18 million. Western Alliance Bancorporation had a net margin of 17.03% and a return on equity of 13.58%. The company’s revenue was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.79 earnings per share. Equities analysts anticipate that Western Alliance Bancorporation will post 9.8 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, May 14th. Western Alliance Bancorporation’s payout ratio is currently 19.56%.

Analyst Ratings Changes

Several brokerages recently commented on WAL. National Alliance Securities reiterated a “buy” rating on shares of Western Alliance Bancorporation in a research note on Friday, March 6th. Wells Fargo & Company raised shares of Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $83.00 to $79.00 in a report on Monday, March 9th. Weiss Ratings raised shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. Barclays reduced 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 report on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Western Alliance Bancorporation from $93.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and a consensus price target of $92.93.

Insider Buying and Selling at Western Alliance Bancorporation

In other news, CAO Ben Mucha sold 5,946 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $81.00, for a total value of $481,626.00. Following the completion of the transaction, the chief accounting officer owned 3,485 shares of the company’s stock, valued at $282,285. The trade was a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.68% of the stock is currently owned by corporate insiders.

Western Alliance Bancorporation Company 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.