Voya Investment Management LLC Acquires 55,933 Shares of Western Alliance Bancorporation $WAL

Voya Investment Management LLC grew its position in Western Alliance Bancorporation (NYSE:WAL) by 7.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 823,071 shares of the financial services provider’s stock after buying an additional 55,933 shares during the period. Voya Investment Management LLC’s holdings in Western Alliance Bancorporation were worth $71,377,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WAL. GAMMA Investing LLC grew its position in shares of Western Alliance Bancorporation by 6.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,317 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 136 shares during the period. EJF Capital LLC grew its stake in shares of Western Alliance Bancorporation by 2.5% during the 2nd quarter. EJF Capital LLC now owns 6,223 shares of the financial services provider’s stock valued at $485,000 after acquiring an additional 149 shares during the period. ProShare Advisors LLC increased its holdings in Western Alliance Bancorporation by 4.0% in the 2nd quarter. ProShare Advisors LLC now owns 4,833 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 188 shares in the last quarter. Signaturefd LLC raised its stake in Western Alliance Bancorporation by 14.8% during the 2nd quarter. Signaturefd LLC now owns 1,654 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 213 shares during the period. Finally, Scotia Capital Inc. lifted its holdings in Western Alliance Bancorporation by 1.3% during the second quarter. Scotia Capital Inc. now owns 18,498 shares of the financial services provider’s stock valued at $1,443,000 after purchasing an additional 238 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CFO Dale Gibbons acquired 4,000 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was bought at an average cost of $77.00 per share, with a total value of $308,000.00. Following the completion of the purchase, the chief financial officer directly owned 300,358 shares in the company, valued at $23,127,566. The trade was a 1.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WAL has been the topic of a number of recent analyst reports. National Bankshares set a $118.00 price target on Western Alliance Bancorporation in a report on Wednesday, September 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Western Alliance Bancorporation in a research note on Monday. Citigroup reiterated a “neutral” rating on shares of Western Alliance Bancorporation in a research note on Tuesday, August 26th. Wells Fargo & Company cut their price objective on Western Alliance Bancorporation from $90.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.87.

Western Alliance Bancorporation Trading Down 0.7%

Shares of NYSE WAL opened at $86.22 on Friday. Western Alliance Bancorporation has a fifty-two week low of $57.05 and a fifty-two week high of $94.40. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 0.85. The company has a market cap of $9.49 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 0.60 and a beta of 1.37. The business’s 50 day moving average price is $80.14 and its 200-day moving average price is $81.64.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $1.91 EPS for the quarter. Western Alliance Bancorporation had a return on equity of 12.93% and a net margin of 17.14%.The company had revenue of $718.00 million for the quarter. On average, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.42 per share. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, November 13th. Western Alliance Bancorporation’s payout ratio is presently 20.77%.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.