Thompson Siegel & Walmsley LLC Cuts Holdings in Western Alliance Bancorporation (NYSE:WAL)

Thompson Siegel & Walmsley LLC cut its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 3.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 84,820 shares of the financial services provider’s stock after selling 2,872 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Western Alliance Bancorporation were worth $7,336,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Western Alliance Bancorporation during the third quarter valued at $4,736,000. Smead Capital Management Inc. increased its holdings in shares of Western Alliance Bancorporation by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 1,350,195 shares of the financial services provider’s stock worth $116,778,000 after buying an additional 45,543 shares during the last quarter. Whalen Wealth Management Inc. purchased a new stake in shares of Western Alliance Bancorporation during the 3rd quarter valued at about $510,000. Pathstone Holdings LLC lifted its holdings in shares of Western Alliance Bancorporation by 13.1% in the 3rd quarter. Pathstone Holdings LLC now owns 21,701 shares of the financial services provider’s stock valued at $1,877,000 after acquiring an additional 2,509 shares during the last quarter. Finally, RiverPark Advisors LLC purchased a new position in Western Alliance Bancorporation in the third quarter worth about $155,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Barbara Kennedy sold 11,083 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $81.59, for a total transaction of $904,261.97. Following the sale, the insider now directly owns 7,977 shares in the company, valued at $650,843.43. This trade represents a 58.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert P. Latta sold 2,996 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of 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 disclosure for this sale can be found here. Corporate insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Stock Up 2.7 %

NYSE:WAL opened at $91.55 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a twelve month low of $47.60 and a twelve month high of $96.45. The company has a market cap of $10.08 billion, a PE ratio of 14.13, a P/E/G ratio of 1.40 and a beta of 1.44. The company’s 50 day moving average is $86.57 and its two-hundred day moving average is $75.30.

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 company had revenue of $833.10 million for the quarter, compared to analysts’ expectations of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. Analysts anticipate that Western Alliance Bancorporation will post 7.14 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.66%. 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 dividend payout ratio (DPR) is presently 23.46%.

Wall Street Analysts Forecast Growth

WAL has been the topic of a number of recent research reports. Piper Sandler decreased their price objective on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their price target for the company from $83.00 to $101.00 in a report on Monday, October 7th. 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. Truist Financial cut their price objective 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, Royal Bank of Canada set a $99.00 target price on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

Western Alliance Bancorporation Company Profile

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.