Infrastructure Capital Advisors LLC Purchases Shares of 2,842 Western Alliance Bancorporation (NYSE:WAL)

Infrastructure Capital Advisors LLC purchased a new stake in Western Alliance Bancorporation (NYSE:WAL) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 2,842 shares of the financial services provider’s stock, valued at approximately $246,000.

Other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Western Alliance Bancorporation in the third quarter valued at approximately $31,000. ORG Wealth Partners LLC acquired a new stake in shares of Western Alliance Bancorporation in the third quarter valued at approximately $33,000. ORG Partners LLC acquired a new stake in shares of Western Alliance Bancorporation in the second quarter valued at approximately $36,000. UMB Bank n.a. lifted its position in shares of Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after buying an additional 249 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Western Alliance Bancorporation by 58.4% in the third 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 last quarter. 79.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WAL has been the subject of a number of recent analyst reports. StockNews.com cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Wedbush raised their price objective on Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Royal Bank of Canada set a $99.00 price objective on Western Alliance Bancorporation and gave the company an “outperform” rating in a research report on Friday, October 18th. Barclays raised their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, Stephens reissued an “overweight” rating and set a $102.00 price target on shares of Western Alliance Bancorporation in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

Insider Buying and Selling

In related news, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the sale, the director now owns 4,056 shares in the company, 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 at this hyperlink. 2.75% of the stock is currently owned by corporate insiders.

Western Alliance Bancorporation Trading Down 0.6 %

Shares of WAL opened at $93.50 on Friday. Western Alliance Bancorporation has a 52-week low of $47.60 and a 52-week high of $98.10. The business’s fifty day moving average is $87.57 and its 200-day moving average is $76.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The firm has a market cap of $10.29 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.47 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10). The business had revenue of $833.10 million during 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%. Equities analysts anticipate that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.63%. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s payout ratio is currently 23.46%.

Western Alliance Bancorporation 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.