Quantbot Technologies LP Acquires Shares of 62,783 Western Alliance Bancorporation $WAL

Quantbot Technologies LP acquired a new stake in Western Alliance Bancorporation (NYSE:WAL) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 62,783 shares of the financial services provider’s stock, valued at approximately $5,161,000.

Several other large investors have also modified their holdings of WAL. Evolve Private Wealth LLC acquired a new position in shares of Western Alliance Bancorporation in the 2nd quarter valued at $280,000. Westpac Banking Corp purchased a new stake in Western Alliance Bancorporation in the 2nd quarter valued at $75,000. EP Wealth Advisors LLC acquired a new stake in Western Alliance Bancorporation during the 2nd quarter worth $979,000. Ieq Capital LLC acquired a new stake in Western Alliance Bancorporation during the 2nd quarter worth $18,206,000. Finally, Burnham & Co LLC purchased a new position in Western Alliance Bancorporation during the 2nd quarter worth $82,000. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Up 0.8%

Shares of Western Alliance Bancorporation stock opened at $79.78 on Friday. The company has a market cap of $8.70 billion, a P/E ratio of 8.98, a PEG ratio of 0.77 and a beta of 1.34. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.81 and a current ratio of 0.86. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23. The firm has a fifty day moving average of $81.41 and a two-hundred day moving average of $80.22.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Tuesday, July 21st. The financial services provider reported $2.36 EPS for the quarter, hitting the consensus estimate of $2.36. The company had revenue of $995.70 million during the quarter, compared to analysts’ expectations of $980.53 million. Western Alliance Bancorporation had a net margin of 17.20% and a return on equity of 13.40%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the business earned $2.07 EPS. On average, analysts forecast that Western Alliance Bancorporation will post 9.16 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be given a $0.42 dividend. The ex-dividend date is Thursday, August 13th. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 18.92%.

Insider Buying and Selling

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $81.00, for a total value of $481,626.00. Following the sale, the chief accounting officer owned 3,485 shares of the company’s stock, valued at approximately $282,285. The trade was a 63.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WAL shares. Truist Financial lifted their price objective on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Citigroup raised their price target on Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. JPMorgan Chase & Co. boosted their price target on Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Wells Fargo & Company upped their price objective on Western Alliance Bancorporation from $79.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Finally, Piper Sandler increased their price objective on Western Alliance Bancorporation from $92.00 to $97.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.47.

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.