Western Alliance Bancorporation $WAL Shares Sold by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC cut its holdings in Western Alliance Bancorporation (NYSE:WAL) by 38.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 32,183 shares of the financial services provider’s stock after selling 19,740 shares during the period. Oliver Luxxe Assets LLC’s holdings in Western Alliance Bancorporation were worth $2,791,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. WCM Investment Management LLC raised its position in shares of Western Alliance Bancorporation by 5.4% during the 2nd quarter. WCM Investment Management LLC now owns 234,809 shares of the financial services provider’s stock worth $18,226,000 after purchasing an additional 12,116 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Western Alliance Bancorporation by 17.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,842 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 580 shares during the period. William Blair Investment Management LLC grew its stake in Western Alliance Bancorporation by 0.9% during the 2nd quarter. William Blair Investment Management LLC now owns 2,313,336 shares of the financial services provider’s stock worth $180,394,000 after buying an additional 20,704 shares during the last quarter. Congress Asset Management Co. grew its stake in Western Alliance Bancorporation by 14.5% during the 3rd quarter. Congress Asset Management Co. now owns 215,419 shares of the financial services provider’s stock worth $18,681,000 after buying an additional 27,329 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. increased its position in Western Alliance Bancorporation by 100.0% in the second quarter. Hussman Strategic Advisors Inc. now owns 42,000 shares of the financial services provider’s stock worth $3,275,000 after buying an additional 21,000 shares during the period. Institutional investors own 79.15% of the company’s stock.

Insider Activity at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CFO Dale Gibbons bought 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was acquired at an average cost of $77.00 per share, with a total value of $308,000.00. Following the completion of the purchase, the chief financial officer directly owned 300,358 shares in the company, valued at approximately $23,127,566. This trade represents a 1.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 2.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WAL has been the subject of several analyst reports. Royal Bank Of Canada boosted their price target on shares of Western Alliance Bancorporation from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Industrial Alliance Securities set a $108.00 target price on shares of Western Alliance Bancorporation in a research note on Wednesday. Keefe, Bruyette & Woods dropped their price target on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. JPMorgan Chase & Co. lifted their price target on Western Alliance Bancorporation from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. Finally, Cowen started coverage on Western Alliance Bancorporation in a report on Wednesday, September 24th. They issued a “buy” rating for the company. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.20.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL opened at $90.14 on Friday. Western Alliance Bancorporation has a 1 year low of $57.05 and a 1 year high of $94.40. The firm has a market cap of $9.92 billion, a P/E ratio of 11.14, a PEG ratio of 0.55 and a beta of 1.34. The stock has a fifty day moving average price of $83.02 and a two-hundred day moving average price of $83.12. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share for the quarter. Western Alliance Bancorporation had a return on equity of 12.93% and a net margin of 17.14%.The business had revenue of $718.00 million during the quarter. Research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Thursday, November 13th were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. Western Alliance Bancorporation’s dividend payout ratio is presently 20.77%.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.