Atomi Financial Group Inc. Purchases Shares of 2,650 Western Alliance Bancorporation (NYSE:WAL)

Atomi Financial Group Inc. acquired a new position in Western Alliance Bancorporation (NYSE:WAL) during the third quarter, according to its most recent filing with the SEC. The firm acquired 2,650 shares of the financial services provider’s stock, valued at approximately $229,000.

Several other hedge funds have also recently made changes to their positions in WAL. GAMMA Investing LLC boosted its holdings in Western Alliance Bancorporation by 124.1% in the third quarter. GAMMA Investing LLC now owns 1,134 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 628 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth about $722,000. Sanctuary Advisors LLC bought a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at about $221,000. LHM Inc. increased its position in shares of Western Alliance Bancorporation by 55.4% during the second quarter. LHM Inc. now owns 52,554 shares of the financial services provider’s stock valued at $3,301,000 after buying an additional 18,740 shares during the period. Finally, Creative Planning raised its stake in Western Alliance Bancorporation by 6.1% in the second quarter. Creative Planning now owns 5,756 shares of the financial services provider’s stock worth $362,000 after buying an additional 330 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the transaction, the director now directly owns 4,056 shares in the company, valued at $335,634. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the transaction, the director now owns 4,056 shares of the company’s stock, valued at approximately $335,634. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Barbara Kennedy sold 11,083 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $81.59, for a total value of $904,261.97. Following the sale, the insider now owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,265 shares of company stock valued at $1,700,391. Company insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $88.69 on Monday. Western Alliance Bancorporation has a 12 month low of $38.81 and a 12 month high of $88.92. The business’s fifty day simple moving average is $80.92 and its two-hundred day simple moving average is $69.68. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market cap of $9.76 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 1.29 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.71 by $0.04. The company had revenue of $771.80 million during the quarter, compared to the consensus estimate of $737.97 million. Western Alliance Bancorporation had a return on equity of 13.98% and a net margin of 15.54%. Western Alliance Bancorporation’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the company earned $1.96 EPS. Research analysts anticipate that Western Alliance Bancorporation will post 7.42 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio is currently 22.26%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wedbush upped their target price on Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Barclays increased their price objective on Western Alliance Bancorporation from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Piper Sandler raised their price objective on Western Alliance Bancorporation from $76.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. StockNews.com downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group lifted their price target on shares of Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.53.

Western Alliance Bancorporation Company 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.