Sequoia Financial Advisors LLC Sells 8,708 Shares of Western Alliance Bancorporation $WAL

Sequoia Financial Advisors LLC lessened its stake in Western Alliance Bancorporation (NYSE:WAL) by 12.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 61,657 shares of the financial services provider’s stock after selling 8,708 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Western Alliance Bancorporation were worth $4,368,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of WAL. Hsbc Holdings PLC grew its position in Western Alliance Bancorporation by 635.0% during the 1st quarter. Hsbc Holdings PLC now owns 48,366 shares of the financial services provider’s stock valued at $3,409,000 after purchasing an additional 41,786 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Western Alliance Bancorporation by 2.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 21,106 shares of the financial services provider’s stock worth $1,495,000 after buying an additional 506 shares during the last quarter. HB Wealth Management LLC purchased a new position in Western Alliance Bancorporation in the first quarter worth about $235,000. Baer Investment Advisory LLC bought a new position in shares of Western Alliance Bancorporation in the first quarter worth approximately $270,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Western Alliance Bancorporation in the first quarter worth approximately $1,840,000. Institutional investors own 79.15% of the company’s stock.

Insider Buying and Selling

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $81.00, for a total value of $481,626.00. Following the transaction, the chief accounting officer owned 3,485 shares of the company’s stock, valued at approximately $282,285. This represents a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.76% of the company’s stock.

Analyst Upgrades and Downgrades

WAL has been the subject of several analyst reports. DA Davidson reduced their price target on shares of Western Alliance Bancorporation from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Piper Sandler lowered their price objective on Western Alliance Bancorporation from $94.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Citigroup increased their target price on Western Alliance Bancorporation from $96.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. boosted their price target on Western Alliance Bancorporation from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings raised Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

Western Alliance Bancorporation Trading Up 0.0%

Shares of WAL stock opened at $80.69 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. Western Alliance Bancorporation has a 12-month low of $65.82 and a 12-month high of $97.23. The stock has a market capitalization of $8.81 billion, a P/E ratio of 9.39, a P/E/G ratio of 0.73 and a beta of 1.34. The firm’s 50 day moving average is $79.99 and its 200 day moving average is $81.44.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.74. The business had revenue of $968.40 million during the quarter, compared to analyst estimates of $944.18 million. Western Alliance Bancorporation had a net margin of 17.03% and a return on equity of 13.58%. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.79 EPS. Research analysts expect that Western Alliance Bancorporation will post 9.49 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Thursday, May 14th. Western Alliance Bancorporation’s dividend payout ratio is 19.56%.

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.