Amalgamated Bank Acquires 39,951 Shares of Western Alliance Bancorporation (NYSE:WAL)

Amalgamated Bank grew its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 333.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 51,920 shares of the financial services provider’s stock after acquiring an additional 39,951 shares during the quarter. Amalgamated Bank’s holdings in Western Alliance Bancorporation were worth $4,491,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in Western Alliance Bancorporation during the 1st quarter valued at $27,000. V Square Quantitative Management LLC bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new position in shares of Western Alliance Bancorporation during the third quarter valued at about $33,000. ORG Partners LLC bought a new position in Western Alliance Bancorporation in the second quarter worth about $36,000. Finally, UMB Bank n.a. lifted its holdings in Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after buying an additional 249 shares during the period. Institutional investors own 79.15% of the company’s stock.

Insider Buying and Selling

In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Barbara Kennedy sold 11,083 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the transaction, the insider now directly owns 7,977 shares of the company’s stock, valued at $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 is available at the SEC website. Also, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the sale, the director now owns 4,056 shares in the company, valued at $335,634. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.75% of the stock is owned by corporate insiders.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $89.86 on Friday. The company has a market cap of $9.89 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.51 and a beta of 1.44. The business’s fifty day simple moving average is $84.55 and its two-hundred day simple moving average is $73.29. Western Alliance Bancorporation has a 12 month low of $43.20 and a 12 month high of $96.45. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, November 15th. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 1.69%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 23.46%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WAL shares. Truist Financial reduced their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Stephens reiterated an “overweight” rating and issued a $102.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Wells Fargo & Company raised their price objective on Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. 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, Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

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.