Western Alliance Bancorporation (NYSE:WAL) Shares Sold by 140 Summer Partners LP

140 Summer Partners LP lessened its stake in Western Alliance Bancorporation (NYSE:WAL) by 20.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 918,556 shares of the financial services provider’s stock after selling 230,700 shares during the period. Western Alliance Bancorporation accounts for about 8.6% of 140 Summer Partners LP’s holdings, making the stock its 3rd biggest position. 140 Summer Partners LP owned approximately 0.83% of Western Alliance Bancorporation worth $79,446,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&G Plc increased its holdings in shares of Western Alliance Bancorporation by 12.4% in the second quarter. M&G Plc now owns 133,670 shares of the financial services provider’s stock valued at $8,421,000 after purchasing an additional 14,734 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in Western Alliance Bancorporation by 1.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,633,261 shares of the financial services provider’s stock worth $102,603,000 after buying an additional 20,254 shares during the last quarter. First Hawaiian Bank purchased a new position in Western Alliance Bancorporation during the 2nd quarter worth $474,000. Mutual of America Capital Management LLC acquired a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth $5,099,000. Finally, Bank of Montreal Can boosted its holdings in shares of Western Alliance Bancorporation by 41.4% in the second quarter. Bank of Montreal Can now owns 596,262 shares of the financial services provider’s stock valued at $37,475,000 after acquiring an additional 174,682 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Western Alliance Bancorporation

In related news, Director Robert P. Latta sold 2,996 shares of the firm’s 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 owns 4,056 shares in the company, valued at approximately $335,634. This trade represents a 42.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.75% of the stock is owned by insiders.

Western Alliance Bancorporation Stock Down 0.6 %

Shares of NYSE:WAL opened at $93.50 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm has a market cap of $10.29 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.48 and a beta of 1.44. The stock’s 50-day moving average price is $87.47 and its two-hundred day moving average price is $76.26. Western Alliance Bancorporation has a 12-month low of $47.60 and a 12-month high of $98.10.

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

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.38 dividend. This is a positive change 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 of this dividend is Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 23.46%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wedbush increased their price target on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Wells Fargo & Company increased their price objective on Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut their price target 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. Barclays boosted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their target price for the company from $83.00 to $101.00 in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and an average 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.