West Family Investments Inc. Buys Shares of 7,206 Western Alliance Bancorporation $WAL

West Family Investments Inc. acquired a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 7,206 shares of the financial services provider’s stock, valued at approximately $592,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WAL. Clearstead Advisors LLC grew its position in shares of Western Alliance Bancorporation by 144.6% in the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock worth $35,000 after buying an additional 243 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Western Alliance Bancorporation in the fourth quarter worth $38,000. Compound Global Advisors LLC purchased a new position in Western Alliance Bancorporation in the second quarter worth $41,000. Leonteq Securities AG acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter worth $44,000. Finally, Allworth Financial LP increased its position in shares of Western Alliance Bancorporation by 39.3% during the fourth quarter. Allworth Financial LP now owns 557 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 157 shares in the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Down 0.7%

NYSE WAL opened at $80.17 on Thursday. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23. The company has a market cap of $8.75 billion, a P/E ratio of 9.03, a P/E/G ratio of 0.78 and a beta of 1.34. The business has a fifty day moving average price of $81.55 and a 200 day moving average price of $80.29. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.81 and a current ratio of 0.86.

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 the consensus estimate of $2.36. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.40%. The firm had revenue of $995.70 million for the quarter, compared to the consensus estimate of $980.53 million. During the same period last year, the firm posted $2.07 earnings per share. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. Research analysts anticipate that Western Alliance Bancorporation will post 9.16 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. increased their price objective on Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. TD Cowen raised their price objective on Western Alliance Bancorporation from $89.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, July 27th. UBS Group lifted their target price on Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, DA Davidson set a $36.00 target price on shares of Western Alliance Bancorporation in a report on Wednesday, July 22nd. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and a consensus target price of $95.47.

Insider Activity

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

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.