Cwm LLC Sells 2,636 Shares of Western Alliance Bancorporation (NYSE:WAL)

Cwm LLC decreased its holdings in Western Alliance Bancorporation (NYSE:WAL) by 48.9% in the third quarter, HoldingsChannel.com reports. The fund owned 2,754 shares of the financial services provider’s stock after selling 2,636 shares during the quarter. Cwm LLC’s holdings in Western Alliance Bancorporation were worth $238,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Western Alliance Bancorporation by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock worth $670,170,000 after purchasing an additional 395,101 shares during the period. SG Americas Securities LLC grew its stake in Western Alliance Bancorporation by 1,706.9% during the first quarter. SG Americas Securities LLC now owns 30,898 shares of the financial services provider’s stock valued at $1,983,000 after acquiring an additional 29,188 shares in the last quarter. M&G Plc grew its stake in Western Alliance Bancorporation by 12.4% during the second quarter. M&G Plc now owns 133,670 shares of the financial services provider’s stock valued at $8,421,000 after acquiring an additional 14,734 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Western Alliance Bancorporation by 1.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,633,261 shares of the financial services provider’s stock valued at $102,603,000 after acquiring an additional 20,254 shares during the last quarter. Finally, First Hawaiian Bank purchased a new stake in Western Alliance Bancorporation in the 2nd quarter worth $474,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Insider Buying and Selling at Western Alliance Bancorporation

In related news, insider Stephen Russell Curley sold 5,070 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $76.43, for a total transaction of $387,500.10. Following the completion of the sale, the insider now directly owns 36,718 shares in the company, valued at $2,806,356.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction on Monday, August 26th. The shares were sold at an average price of $81.59, for a total value of $904,261.97. Following the transaction, the insider now directly owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Russell Curley sold 5,070 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $76.43, for a total value of $387,500.10. Following the sale, the insider now owns 36,718 shares of the company’s stock, valued at approximately $2,806,356.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,149 shares of company stock valued at $1,539,681. 2.75% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

WAL has been the subject of a number of research reports. Royal Bank of Canada set a $99.00 price target on Western Alliance Bancorporation and gave the company an “outperform” rating in a research note on Friday. Wedbush increased their price objective on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and boosted their target price for the stock from $83.00 to $101.00 in a report on Monday, October 7th. Wells Fargo & Company increased their price target on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Finally, Truist Financial dropped their price target on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $92.60.

Western Alliance Bancorporation Trading Up 2.4 %

NYSE WAL opened at $82.44 on Wednesday. The company’s 50-day simple moving average is $82.89 and its two-hundred day simple moving average is $70.95. Western Alliance Bancorporation has a one year low of $38.81 and a one year high of $94.28. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.30 and a beta of 1.44. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.88.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, August 16th. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. Western Alliance Bancorporation’s dividend payout ratio is currently 22.84%.

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.