Signaturefd LLC Boosts Position in Western Alliance Bancorporation (NYSE:WAL)

Signaturefd LLC raised its stake in Western Alliance Bancorporation (NYSE:WAL) by 18.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,598 shares of the financial services provider’s stock after acquiring an additional 252 shares during the period. Signaturefd LLC’s holdings in Western Alliance Bancorporation were worth $138,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC acquired a new stake in Western Alliance Bancorporation during the 3rd quarter worth $249,000. Toth Financial Advisory Corp increased its position in shares of Western Alliance Bancorporation by 2,117.8% during the third quarter. Toth Financial Advisory Corp now owns 10,734 shares of the financial services provider’s stock worth $928,000 after purchasing an additional 10,250 shares in the last quarter. Buckley Wealth Management LLC purchased a new stake in shares of Western Alliance Bancorporation in the 3rd quarter valued at about $272,000. TriaGen Wealth Management LLC acquired a new stake in shares of Western Alliance Bancorporation in the 3rd quarter valued at about $418,000. Finally, Blue Trust Inc. grew its stake in Western Alliance Bancorporation by 58.4% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after buying an additional 187 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Insiders Place Their Bets

In other news, insider Stephen Russell Curley sold 5,070 shares of Western Alliance Bancorporation stock in a transaction that occurred on Thursday, August 1st. The shares were 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 approximately $2,806,356.74. This trade 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 the SEC website. In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction dated 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 directly owns 4,056 shares in the company, valued at approximately $335,634. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Russell Curley sold 5,070 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,149 shares of company stock worth $1,539,681. 2.75% of the stock is owned by company insiders.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL opened at $82.14 on Monday. 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 has a one year low of $39.03 and a one year high of $94.28. The firm has a market capitalization of $9.04 billion, a P/E ratio of 11.97, a PEG ratio of 1.28 and a beta of 1.44. The company’s fifty day moving average is $83.25 and its two-hundred day moving average is $71.34.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio is currently 21.57%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WAL. Piper Sandler decreased their price objective on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a report on Monday, October 21st. StockNews.com downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Stephens reaffirmed an “overweight” rating and issued a $102.00 target price on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $83.00 to $101.00 in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.60.

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.