Pathstone Holdings LLC Boosts Holdings in Western Alliance Bancorporation (NYSE:WAL)

Pathstone Holdings LLC grew its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 13.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,701 shares of the financial services provider’s stock after purchasing an additional 2,509 shares during the period. Pathstone Holdings LLC’s holdings in Western Alliance Bancorporation were worth $1,877,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Western Alliance Bancorporation during the third quarter worth about $31,000. ORG Wealth Partners LLC bought a new stake in shares of Western Alliance Bancorporation during the 3rd quarter valued at about $33,000. ORG Partners LLC purchased a new position in shares of Western Alliance Bancorporation during the second quarter worth about $36,000. UMB Bank n.a. increased its position in shares of 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 purchasing an additional 249 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in 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. Institutional investors own 79.15% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robert P. Latta sold 2,996 shares of the business’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 transaction, the director now owns 4,056 shares in the company, valued at $335,634. The trade was a 42.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Price Performance

WAL stock opened at $94.03 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm’s 50-day moving average price is $87.29 and its two-hundred day moving average price is $76.14. The stock has a market capitalization of $10.35 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.47 and a beta of 1.44. Western Alliance Bancorporation has a 12-month low of $47.60 and a 12-month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The business had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. As a group, equities analysts predict that Western Alliance Bancorporation will post 7.14 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.38 per share. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Friday, November 15th. Western Alliance Bancorporation’s payout ratio is presently 23.46%.

Analysts Set New Price Targets

WAL has been the topic of several research reports. Barclays raised their price objective on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. 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. Royal Bank of Canada set a $99.00 price objective on Western Alliance Bancorporation and gave the company an “outperform” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upgraded 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 research report on Monday, October 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has issued 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 an average target price of $92.73.

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.