Western Alliance Bancorporation $WAL Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 339,604 shares of the financial services provider’s stock after selling 14,721 shares during the quarter. Victory Capital Management Inc.’s holdings in Western Alliance Bancorporation were worth $29,450,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of WAL. Norges Bank acquired a new stake in Western Alliance Bancorporation during the 2nd quarter worth $137,289,000. Perpetual Ltd acquired a new stake in shares of Western Alliance Bancorporation during the third quarter worth about $31,072,000. Global Frontier Investments LLC purchased a new stake in shares of Western Alliance Bancorporation in the 2nd quarter valued at about $22,224,000. Smead Capital Management Inc. boosted its position in shares of Western Alliance Bancorporation by 19.2% in the 2nd quarter. Smead Capital Management Inc. now owns 1,435,247 shares of the financial services provider’s stock valued at $111,921,000 after purchasing an additional 231,159 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Western Alliance Bancorporation by 11.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,194,630 shares of the financial services provider’s stock worth $190,318,000 after buying an additional 223,425 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. iA Financial set a $101.00 price objective on Western Alliance Bancorporation in a report on Wednesday, January 28th. Weiss Ratings upgraded shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Truist Financial set a $98.00 price target on shares of Western Alliance Bancorporation in a research note on Friday, January 9th. DA Davidson lifted their price objective on shares of Western Alliance Bancorporation from $104.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Finally, Barclays reaffirmed an “overweight” rating on shares of Western Alliance Bancorporation in a report on Monday, February 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.40.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $73.94 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.85 and a quick ratio of 0.80. The firm has a market cap of $8.12 billion, a price-to-earnings ratio of 8.47, a price-to-earnings-growth ratio of 0.63 and a beta of 1.34. The firm’s fifty day moving average price is $88.58 and its 200 day moving average price is $85.29. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.19. Western Alliance Bancorporation had a net margin of 18.04% and a return on equity of 13.33%. The company had revenue of $890.80 million during the quarter, compared to the consensus estimate of $912.69 million. During the same quarter in the prior year, the firm earned $1.95 EPS. Western Alliance Bancorporation’s quarterly revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts expect that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 20th were given a $0.42 dividend. The ex-dividend date was Friday, February 20th. This represents a $1.68 dividend on an annualized basis and a yield of 2.3%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 19.24%.

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.