Generate Investment Management Ltd Reduces Stake in Western Alliance Bancorporation $WAL

Generate Investment Management Ltd lowered its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 56.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 140,000 shares of the financial services provider’s stock after selling 179,449 shares during the quarter. Generate Investment Management Ltd’s holdings in Western Alliance Bancorporation were worth $12,141,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. WCM Investment Management LLC grew its position in shares of Western Alliance Bancorporation by 5.4% during the 2nd quarter. WCM Investment Management LLC now owns 234,809 shares of the financial services provider’s stock valued at $18,226,000 after purchasing an additional 12,116 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Western Alliance Bancorporation by 17.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,842 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 580 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Western Alliance Bancorporation by 0.9% during the 2nd quarter. William Blair Investment Management LLC now owns 2,313,336 shares of the financial services provider’s stock valued at $180,394,000 after purchasing an additional 20,704 shares during the last quarter. Congress Asset Management Co. raised its position in Western Alliance Bancorporation by 14.5% in the 3rd quarter. Congress Asset Management Co. now owns 215,419 shares of the financial services provider’s stock worth $18,681,000 after purchasing an additional 27,329 shares during the period. Finally, Hussman Strategic Advisors Inc. boosted its position in Western Alliance Bancorporation by 100.0% during the second quarter. Hussman Strategic Advisors Inc. now owns 42,000 shares of the financial services provider’s stock valued at $3,275,000 after buying an additional 21,000 shares during the period. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Analyst Upgrades and Downgrades

WAL has been the subject of several analyst reports. TD Cowen started coverage on Western Alliance Bancorporation in a report on Thursday, September 25th. They set a “buy” rating and a $118.00 target price for the company. Barclays increased their price objective on Western Alliance Bancorporation from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Royal Bank Of Canada lifted their target price on shares of Western Alliance Bancorporation from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Industrial Alliance Securities set a $115.00 price target on shares of Western Alliance Bancorporation in a research report on Friday, December 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Western Alliance Bancorporation from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Thirteen 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. According to MarketBeat, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and an average price target of $102.87.

Western Alliance Bancorporation Stock Down 0.9%

WAL stock opened at $84.60 on Wednesday. Western Alliance Bancorporation has a twelve month low of $57.05 and a twelve month high of $94.40. The business has a 50 day moving average of $81.54 and a 200 day moving average of $82.40. The firm has a market cap of $9.31 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 0.59 and a beta of 1.37. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $718.00 million during the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 12.93%. On average, research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Thursday, November 13th were issued 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, November 13th. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. Western Alliance Bancorporation’s payout ratio is currently 20.77%.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CFO Dale Gibbons bought 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was bought at an average cost of $77.00 per share, for a total transaction of $308,000.00. Following the completion of the transaction, the chief financial officer owned 300,358 shares of the company’s stock, valued at $23,127,566. This represents a 1.35% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.75% of the stock is owned by company insiders.

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.