8,230 Shares in Western Alliance Bancorporation $WAL Bought by Inceptionr LLC

Inceptionr LLC bought a new stake in Western Alliance Bancorporation (NYSE:WAL) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,230 shares of the financial services provider’s stock, valued at approximately $583,000.

Several other institutional investors and hedge funds have also bought and sold shares of WAL. Sei Investments Co. boosted its stake in Western Alliance Bancorporation by 42.1% in the 1st quarter. Sei Investments Co. now owns 88,282 shares of the financial services provider’s stock worth $6,255,000 after purchasing an additional 26,161 shares in the last quarter. Cetera Investment Advisers increased its stake in Western Alliance Bancorporation by 8.1% during the 1st quarter. Cetera Investment Advisers now owns 12,003 shares of the financial services provider’s stock valued at $850,000 after purchasing an additional 900 shares in the last quarter. CI Investments Inc. raised its holdings in shares of Western Alliance Bancorporation by 12.8% in the first quarter. CI Investments Inc. now owns 5,773 shares of the financial services provider’s stock worth $409,000 after buying an additional 656 shares during the last quarter. Harbor Advisors LLC raised its holdings in shares of Western Alliance Bancorporation by 7.1% in the first quarter. Harbor Advisors LLC now owns 15,000 shares of the financial services provider’s stock worth $1,063,000 after buying an additional 1,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Western Alliance Bancorporation by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,813,995 shares of the financial services provider’s stock worth $270,203,000 after buying an additional 36,534 shares during the period. 79.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WAL shares. Stifel Nicolaus set a $95.00 target price on Western Alliance Bancorporation in a research note on Thursday. Mizuho set a $96.00 price target on Western Alliance Bancorporation in a research report on Thursday. DA Davidson set a $36.00 price objective on Western Alliance Bancorporation in a research note on Wednesday. Citigroup upped their target price on Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, Keefe, Bruyette & Woods raised their target price on Western Alliance Bancorporation from $93.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and an average price target of $94.71.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $83.01 on Friday. The company has a market cap of $9.06 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 0.76 and a beta of 1.34. The stock’s 50 day simple moving average is $80.57 and its 200-day simple moving average is $81.22. Western Alliance Bancorporation has a 1-year low of $65.82 and a 1-year high of $97.23. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.81.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.36. The firm had revenue of $995.70 million for the quarter, compared to analyst estimates of $980.53 million. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.40%. Western Alliance Bancorporation’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.07 earnings per share. As a group, equities research analysts anticipate that Western Alliance Bancorporation will post 9.24 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis 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 (DPR) is presently 18.92%.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer owned 3,485 shares of the company’s stock, valued at $282,285. The trade was a 63.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.76% of the company’s stock.

Western Alliance Bancorporation Company 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.