Western Alliance Bancorporation (NYSE:WAL) Stake Lowered by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC reduced its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 6.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,271 shares of the financial services provider’s stock after selling 496 shares during the period. OneDigital Investment Advisors LLC’s holdings in Western Alliance Bancorporation were worth $629,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Western Alliance Bancorporation by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock worth $670,170,000 after purchasing an additional 395,101 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Western Alliance Bancorporation by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider’s stock valued at $328,165,000 after acquiring an additional 717,242 shares during the period. Dimensional Fund Advisors LP increased its stake in Western Alliance Bancorporation by 20.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock valued at $233,832,000 after acquiring an additional 636,577 shares during the period. William Blair Investment Management LLC increased its stake in Western Alliance Bancorporation by 0.7% in the second quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider’s stock valued at $176,764,000 after acquiring an additional 20,876 shares during the period. Finally, Hood River Capital Management LLC increased its stake in Western Alliance Bancorporation by 5.9% in the first quarter. Hood River Capital Management LLC now owns 1,641,660 shares of the financial services provider’s stock valued at $105,378,000 after acquiring an additional 91,535 shares during the period. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Down 0.0 %

Shares of WAL opened at $89.12 on Thursday. The company has a market cap of $9.81 billion, a PE ratio of 13.75, a P/E/G ratio of 1.40 and a beta of 1.44. The business has a fifty day moving average of $86.31 and a 200 day moving average of $75.18. Western Alliance Bancorporation has a 52-week low of $47.60 and a 52-week high of $96.45. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The company had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. On average, sell-side analysts expect that Western Alliance Bancorporation will post 7.14 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.71%. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, November 15th. Western Alliance Bancorporation’s payout ratio is presently 23.46%.

Analysts Set New Price Targets

Several analysts have weighed in on WAL shares. Barclays upped their price objective on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Stephens reaffirmed an “overweight” rating and set a $102.00 price objective on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and upped their target price for the stock from $83.00 to $101.00 in a research report on Monday, October 7th. Truist Financial reduced their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.73.

Insiders Place Their Bets

In other news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction on Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the transaction, the director now directly owns 4,056 shares of the company’s stock, valued at $335,634. The trade was a 42.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction on Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the transaction, the insider now owns 7,977 shares in the company, valued at approximately $650,843.43. This trade represents a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.75% of the stock is currently owned by corporate insiders.

About Western Alliance Bancorporation

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.