Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Centaurus Financial Inc.

Centaurus Financial Inc. lowered its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 32.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,651 shares of the financial services provider’s stock after selling 1,274 shares during the period. Centaurus Financial Inc.’s holdings in Western Alliance Bancorporation were worth $229,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new stake in shares of Western Alliance Bancorporation in the third quarter valued at about $31,000. ORG Wealth Partners LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at about $33,000. UMB Bank n.a. increased its holdings in shares of Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after buying an additional 249 shares during the last quarter. Blue Trust Inc. raised its position in shares of Western Alliance Bancorporation by 58.4% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after buying an additional 187 shares during the period. Finally, ORG Partners LLC acquired a new position in Western Alliance Bancorporation in the second quarter valued at approximately $36,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Down 0.6 %

WAL stock opened at $93.50 on Thursday. The company’s 50 day moving average price is $87.47 and its 200 day moving average price is $76.26. The firm has a market capitalization of $10.29 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.51 and a beta of 1.44. Western Alliance Bancorporation has a fifty-two week low of $47.60 and a fifty-two week high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL) last announced 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 firm had revenue of $833.10 million during the quarter, compared to analyst estimates of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. On average, equities research analysts anticipate that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.38 per share. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio is currently 23.46%.

Analyst Ratings Changes

WAL has been the subject of several recent analyst reports. Truist Financial reduced their target price on 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. Wells Fargo & Company upped their target price on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Wedbush increased their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Piper Sandler decreased their price objective on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Finally, StockNews.com downgraded 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 assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and an average price target of $92.73.

Insider Activity

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the stock in a transaction that occurred 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 in the company, valued at $335,634. This represents a 42.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.75% of the company’s stock.

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.