Susquehanna Fundamental Investments LLC Purchases Shares of 12,267 Western Alliance Bancorporation $WAL

Susquehanna Fundamental Investments LLC acquired a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the second quarter, Holdings Channel reports. The institutional investor acquired 12,267 shares of the financial services provider’s stock, valued at approximately $1,008,000.

Other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in Western Alliance Bancorporation during the second quarter valued at $26,000. Clearstead Advisors LLC raised its position in shares of Western Alliance Bancorporation by 144.6% in the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 243 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Western Alliance Bancorporation during the 4th quarter worth about $38,000. Assetmark Inc. boosted its stake in shares of Western Alliance Bancorporation by 86.0% during the 1st quarter. Assetmark Inc. now owns 560 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 259 shares in the last quarter. Finally, Compound Global Advisors LLC acquired a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at about $41,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Western Alliance Bancorporation 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 value of $481,626.00. Following the completion of the sale, the chief accounting officer directly owned 3,485 shares of the company’s stock, valued at $282,285. This trade represents a 63.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on WAL. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Western Alliance Bancorporation in a report on Friday, August 21st. Truist Financial upped their target price on Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Citigroup lifted their price target on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. DA Davidson set a $36.00 price target on shares of Western Alliance Bancorporation in a report on Wednesday, July 22nd. Finally, Stephens set a $95.00 price objective on shares of Western Alliance Bancorporation and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and an average price target of $95.47.

Western Alliance Bancorporation Stock Down 1.1%

Shares of NYSE WAL opened at $77.29 on Wednesday. The stock has a market cap of $8.43 billion, a PE ratio of 8.70, a P/E/G ratio of 0.75 and a beta of 1.33. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.93. Western Alliance Bancorporation has a 12-month low of $65.82 and a 12-month high of $97.23. The company has a 50-day moving average of $81.21 and a 200 day moving average of $79.42.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share for the quarter, hitting the consensus estimate of $2.36. The business had revenue of $995.70 million for the quarter, compared to analysts’ expectations of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.07 EPS. As a group, sell-side analysts predict that Western Alliance Bancorporation will post 9.16 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, August 13th. This represents a $1.68 dividend on an annualized basis and a yield of 2.2%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 18.92%.

About Western Alliance Bancorporation

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.