Whalen Wealth Management Inc. Purchases New Shares in Western Alliance Bancorporation (NYSE:WAL)

Whalen Wealth Management Inc. purchased a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,891 shares of the financial services provider’s stock, valued at approximately $510,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Western Alliance Bancorporation in the first quarter worth about $27,000. V Square Quantitative Management LLC purchased a new stake in Western Alliance Bancorporation during the 3rd quarter worth approximately $31,000. ORG Wealth Partners LLC purchased a new stake in Western Alliance Bancorporation during the 3rd quarter worth approximately $33,000. ORG Partners LLC acquired a new position in shares of Western Alliance Bancorporation in the 2nd quarter valued at approximately $36,000. Finally, UMB Bank n.a. grew its position in shares of Western Alliance Bancorporation by 136.8% during the third 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 in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WAL. Truist Financial cut their price target on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Bank of America upped their target price on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Piper Sandler dropped their price target 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. JPMorgan Chase & Co. decreased their price objective on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, Barclays increased their target price on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. One investment 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. Based on data from MarketBeat.com, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

Western Alliance Bancorporation Price Performance

NYSE:WAL opened at $89.24 on Tuesday. Western Alliance Bancorporation has a 12-month low of $47.60 and a 12-month high of $96.45. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 1.42 and a beta of 1.44. The stock’s 50 day moving average price is $85.93 and its two-hundred day moving average price is $74.89. 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 released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The company had revenue of $833.10 million during the quarter, compared to analyst estimates of $811.40 million. On average, analysts anticipate that Western Alliance Bancorporation will post 7.13 earnings per share 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 issued 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 yield of 1.70%. The ex-dividend date is Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 23.46%.

Insider Buying and Selling at Western Alliance Bancorporation

In related news, Director Robert P. Latta sold 2,996 shares of the business’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 owns 4,056 shares of the company’s stock, valued at $335,634. The trade was a 42.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the sale, the insider now owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. This represents a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.75% of the company’s stock.

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.