Western Alliance Bancorporation (NYSE:WAL) Insider Barbara Kennedy Sells 11,083 Shares

Western Alliance Bancorporation (NYSE:WAL) insider Barbara Kennedy sold 11,083 shares of the firm’s stock in a transaction on 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 $650,843.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Western Alliance Bancorporation Stock Up 0.3 %

Western Alliance Bancorporation stock opened at $80.65 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.88. The company has a market capitalization of $8.88 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45. Western Alliance Bancorporation has a fifty-two week low of $38.81 and a fifty-two week high of $83.23. The firm has a 50 day moving average price of $71.85 and a 200 day moving average price of $64.32.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. The company had revenue of $771.80 million for the quarter, compared to analysts’ expectations of $737.97 million. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 13.98%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the company earned $1.96 earnings per share. Research analysts expect that Western Alliance Bancorporation will post 7.4 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, August 16th. This represents a $1.48 dividend on an annualized basis and a yield of 1.84%. Western Alliance Bancorporation’s payout ratio is 21.57%.

Institutional Investors Weigh In On Western Alliance Bancorporation

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Western Alliance Bancorporation in the first quarter valued at about $27,000. GAMMA Investing LLC boosted its stake in shares of Western Alliance Bancorporation by 57.4% during the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 183 shares in the last quarter. ORG Partners LLC purchased a new position in Western Alliance Bancorporation in the 2nd quarter valued at approximately $36,000. Chilton Capital Management LLC acquired a new position in Western Alliance Bancorporation during the second quarter worth $54,000. Finally, Versant Capital Management Inc grew its holdings in 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. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WAL. Wells Fargo & Company upped their price objective on shares of Western Alliance Bancorporation from $68.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Bank of America boosted their price objective on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group boosted their price target on Western Alliance Bancorporation from $70.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Western Alliance Bancorporation from $62.00 to $83.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Finally, Barclays lifted their price target on shares of Western Alliance Bancorporation from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and an average price target of $84.27.

About Western Alliance Bancorporation

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.