First Hawaiian Bank Purchases New Position in Western Alliance Bancorporation (NYSE:WAL)

First Hawaiian Bank purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,538 shares of the financial services provider’s stock, valued at approximately $474,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bright Futures Wealth Management LLC. bought a new stake in shares of Western Alliance Bancorporation during the first quarter valued at approximately $909,000. Westwood Holdings Group Inc. grew its position in Western Alliance Bancorporation by 51.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 333,204 shares of the financial services provider’s stock worth $21,388,000 after purchasing an additional 113,727 shares during the period. Plato Investment Management Ltd grew its position in Western Alliance Bancorporation by 246.1% in the 1st quarter. Plato Investment Management Ltd now owns 1,883 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 1,339 shares during the period. Black Maple Capital Management LP bought a new stake in Western Alliance Bancorporation in the 1st quarter worth approximately $4,018,000. Finally, Price T Rowe Associates Inc. MD grew its position in Western Alliance Bancorporation by 16.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider’s stock worth $328,165,000 after purchasing an additional 717,242 shares during the period. Institutional investors own 79.15% of the company’s stock.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, insider Stephen Russell Curley sold 5,070 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $76.43, for a total value of $387,500.10. Following the completion of the sale, the insider now directly owns 36,718 shares of the company’s stock, valued at approximately $2,806,356.74. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO J. Kelly Jr. Ardrey sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $64.20, for a total value of $64,200.00. Following the completion of the sale, the chief accounting officer now owns 5,636 shares of the company’s stock, valued at approximately $361,831.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Russell Curley sold 5,070 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $76.43, for a total transaction of $387,500.10. Following the completion of the sale, the insider now directly owns 36,718 shares of the company’s stock, valued at approximately $2,806,356.74. The disclosure for this sale can be found here. Insiders sold a total of 8,186 shares of company stock valued at $612,410 in the last three months. Company insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Trading Up 0.8 %

NYSE:WAL traded up $0.60 during mid-day trading on Tuesday, hitting $73.92. 575,050 shares of the stock traded hands, compared to its average volume of 1,247,614. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 1.39 and a beta of 1.45. Western Alliance Bancorporation has a 52 week low of $38.81 and a 52 week high of $82.48. The firm’s 50 day moving average is $66.14 and its two-hundred day moving average is $62.70. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 1.21.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.71 by $0.04. The company had revenue of $771.80 million for the quarter, compared to the consensus estimate of $737.97 million. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 14.18%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.96 EPS. On average, equities research analysts predict that Western Alliance Bancorporation will post 7.36 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a $0.37 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.48 annualized dividend and a yield of 2.00%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.57%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WAL shares. Truist Financial lifted their price target on shares of Western Alliance Bancorporation from $74.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada lifted their price target on shares of Western Alliance Bancorporation from $78.00 to $87.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their price target on shares of Western Alliance Bancorporation from $80.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Hovde Group assumed coverage on shares of Western Alliance Bancorporation in a research note on Monday, April 22nd. They set an “outperform” rating and a $75.00 target price on the stock. Finally, StockNews.com upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and an average target price of $84.27.

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.