Western Alliance Bancorporation $WAL Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in Western Alliance Bancorporation (NYSE:WAL) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,142 shares of the financial services provider’s stock after buying an additional 8,074 shares during the period. Principal Financial Group Inc.’s holdings in Western Alliance Bancorporation were worth $16,306,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Quadrant Capital Group LLC boosted its holdings in Western Alliance Bancorporation by 1.9% in the 4th quarter. Quadrant Capital Group LLC now owns 6,008 shares of the financial services provider’s stock worth $505,000 after acquiring an additional 113 shares during the period. Ritholtz Wealth Management boosted its stake in shares of Western Alliance Bancorporation by 4.6% in the fourth quarter. Ritholtz Wealth Management now owns 3,030 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 133 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in Western Alliance Bancorporation by 4.2% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,342 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 134 shares in the last quarter. Truist Financial Corp increased its stake in Western Alliance Bancorporation by 5.2% during the 4th quarter. Truist Financial Corp now owns 3,102 shares of the financial services provider’s stock worth $261,000 after buying an additional 152 shares during the period. Finally, Allworth Financial LP lifted its holdings in Western Alliance Bancorporation by 39.3% in the 4th quarter. Allworth Financial LP now owns 557 shares of the financial services provider’s stock worth $47,000 after buying an additional 157 shares in the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Western Alliance Bancorporation

In related news, CAO Ben Mucha sold 5,946 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $81.00, for a total transaction of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares in the company, valued at $282,285. This trade represents a 63.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.76% of the stock is owned by company insiders.

Key Headlines Impacting Western Alliance Bancorporation

Here are the key news stories impacting Western Alliance Bancorporation this week:

• Positive Sentiment: DA Davidson reaffirmed its Buy rating on Western Alliance Bancorporation and raised its price target to $90, implying additional upside from recent trading levels.
• Positive Sentiment: Regional bank earnings have broadly improved sentiment across the group, with reports of strong revenue, loan growth, deposit growth, and solid capital positions helping support Western Alliance shares.
• Positive Sentiment: Western Alliance’s quarterly revenue beat expectations and rose sharply year over year, suggesting its core banking business remains healthy despite market worries.
• Neutral Sentiment: Some coverage highlighted that Western Alliance’s earnings may have missed certain consensus estimates on EPS, which could temper enthusiasm even as investors focus on the broader operational strength.
• Neutral Sentiment: Several transcript and earnings-snapshot articles from the last day largely reinforce the same takeaway: the company is still being closely watched for credit trends and deposit stability after recent bank-sector volatility.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock opened at $83.28 on Thursday. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 0.73 and a beta of 1.34. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23. The company’s 50-day simple moving average is $80.26 and its 200-day simple moving average is $81.22. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 0.86.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share for the quarter, meeting the consensus estimate of $2.36. Western Alliance Bancorporation had a return on equity of 13.52% and a net margin of 17.20%.The firm had revenue of $995.70 million during the quarter, compared to analyst estimates of $980.53 million. During the same period in the previous year, the company earned $2.07 earnings per share. Western Alliance Bancorporation’s quarterly revenue was up 17.7% on a year-over-year basis. Equities analysts anticipate that Western Alliance Bancorporation will post 9.5 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, May 14th. Western Alliance Bancorporation’s dividend payout ratio is currently 18.92%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WAL shares. Weiss Ratings raised shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Piper Sandler cut their price target on Western Alliance Bancorporation from $94.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. UBS Group increased their price target on Western Alliance Bancorporation from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Citigroup lifted their price objective on Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Finally, DA Davidson set a $36.00 target price on Western Alliance Bancorporation in a research report on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

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.