Crossmark Global Holdings Inc. Buys Shares of 5,465 Western Alliance Bancorporation (NYSE:WAL)

Crossmark Global Holdings Inc. purchased a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,465 shares of the financial services provider’s stock, valued at approximately $473,000.

A number of other large investors have also made changes to their positions in WAL. Russell Investments Group Ltd. boosted its position in shares of Western Alliance Bancorporation by 0.6% in the 1st quarter. Russell Investments Group Ltd. now owns 29,768 shares of the financial services provider’s stock worth $1,911,000 after buying an additional 164 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 187 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Western Alliance Bancorporation by 26.5% in the second quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 244 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 249 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Western Alliance Bancorporation by 18.7% during the 3rd quarter. Signaturefd LLC now owns 1,598 shares of the financial services provider’s stock worth $138,000 after purchasing an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Down 1.2 %

Shares of WAL opened at $90.38 on Friday. The stock’s 50-day moving average price is $85.78 and its 200 day moving average price is $74.45. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $9.95 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 1.45 and a beta of 1.44. Western Alliance Bancorporation has a 12-month low of $47.54 and a 12-month high of $96.45.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The company had revenue of $833.10 million during the quarter, compared to analyst estimates of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. As a group, research analysts predict that Western Alliance Bancorporation will post 7.13 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.68%. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio is presently 22.84%.

Analyst Ratings Changes

Several analysts have recently issued reports on WAL shares. Wedbush upped their price objective on Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Wells Fargo & Company raised their price target on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Piper Sandler cut their price objective on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Stephens restated an “overweight” rating and set a $102.00 target price on shares of Western Alliance Bancorporation in a research report on Friday, October 18th. Finally, Royal Bank of Canada set a $99.00 price target on Western Alliance Bancorporation and gave the company an “outperform” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

Insider Activity at Western Alliance Bancorporation

In related news, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the transaction, the director now owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 42.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the transaction, the insider now owns 7,977 shares in the company, valued at approximately $650,843.43. This represents a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.75% of the stock is currently owned by company insiders.

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.