Quantinno Capital Management LP Purchases 66,975 Shares of Western Alliance Bancorporation $WAL

Quantinno Capital Management LP increased its position in Western Alliance Bancorporation (NYSE:WAL) by 36.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 249,103 shares of the financial services provider’s stock after buying an additional 66,975 shares during the period. Quantinno Capital Management LP’s holdings in Western Alliance Bancorporation were worth $17,649,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WAL. M&T Bank Corp raised its holdings in shares of Western Alliance Bancorporation by 7,920.9% during the 4th quarter. M&T Bank Corp now owns 315,624 shares of the financial services provider’s stock valued at $26,535,000 after purchasing an additional 311,689 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Western Alliance Bancorporation by 2,313.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 18,895 shares of the financial services provider’s stock worth $1,589,000 after purchasing an additional 18,112 shares in the last quarter. Oak Thistle LLC bought a new stake in Western Alliance Bancorporation in the fourth quarter worth $1,393,000. Hsbc Holdings PLC increased its position in Western Alliance Bancorporation by 635.0% during the first quarter. Hsbc Holdings PLC now owns 48,366 shares of the financial services provider’s stock worth $3,409,000 after buying an additional 41,786 shares during the last quarter. Finally, Independent Financial Group LLC bought a new position in Western Alliance Bancorporation during the first quarter valued at about $924,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Ben Mucha sold 5,946 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $81.00, for a total value of $481,626.00. Following the completion of the transaction, the chief accounting officer owned 3,485 shares in the company, valued at approximately $282,285. This represents a 63.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.76% of the company’s stock.

Western Alliance Bancorporation Price Performance

NYSE:WAL opened at $80.53 on Monday. The stock has a market cap of $8.79 billion, a P/E ratio of 9.07, a PEG ratio of 0.78 and a beta of 1.34. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.80. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23. The company has a fifty day moving average price of $81.00 and a 200 day moving average price of $80.92.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $2.36 EPS for the quarter, meeting analysts’ consensus estimates of $2.36. The business had revenue of $995.70 million during the quarter, compared to analyst estimates of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.Western Alliance Bancorporation’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.07 earnings per share. Analysts anticipate that Western Alliance Bancorporation will post 9.16 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, August 13th. Western Alliance Bancorporation’s payout ratio is 18.92%.

Wall Street Analyst Weigh In

WAL has been the subject of a number of analyst reports. Weiss Ratings raised Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. TD Cowen increased their price objective on Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a “hold” rating in a report on Monday, July 27th. JPMorgan Chase & Co. raised their price objective on Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Mizuho set a $96.00 target price on Western Alliance Bancorporation in a report on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods increased their price target on Western Alliance Bancorporation from $93.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, April 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.82.

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.