22,835 Shares in Western Alliance Bancorporation $WAL Bought by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC bought a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the 2nd quarter, Holdings Channel.com reports. The firm bought 22,835 shares of the financial services provider’s stock, valued at approximately $1,877,000.

Several other institutional investors also recently bought and sold shares of WAL. NewEdge Advisors LLC lifted its position in shares of Western Alliance Bancorporation by 71.2% in the first quarter. NewEdge Advisors LLC now owns 7,815 shares of the financial services provider’s stock worth $600,000 after buying an additional 3,249 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Western Alliance Bancorporation by 513.5% during the 1st quarter. Jones Financial Companies Lllp now owns 1,730 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 1,448 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Western Alliance Bancorporation by 24.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 111,883 shares of the financial services provider’s stock valued at $8,596,000 after acquiring an additional 21,642 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Western Alliance Bancorporation by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,529 shares of the financial services provider’s stock valued at $26,701,000 after acquiring an additional 35,276 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Western Alliance Bancorporation by 11.3% in the 2nd quarter. Cetera Investment Advisers now owns 7,017 shares of the financial services provider’s stock valued at $547,000 after acquiring an additional 713 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Price Performance

NYSE WAL opened at $82.31 on Friday. The stock has a 50-day simple moving average of $81.57 and a 200 day simple moving average of $80.53. Western Alliance Bancorporation has a twelve month low of $65.82 and a twelve month high of $97.23. The stock has a market capitalization of $8.98 billion, a PE ratio of 9.27, a P/E/G ratio of 0.79 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 (NYSE:WAL) last released its earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.36. The firm had revenue of $995.70 million for the quarter, compared to analyst estimates of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The company’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.07 EPS. Research analysts anticipate that Western Alliance Bancorporation will post 9.16 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, August 13th. Western Alliance Bancorporation’s dividend payout ratio is currently 18.92%.

Wall Street Analysts Forecast Growth

WAL has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their target price on Western Alliance Bancorporation from $79.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Keefe, Bruyette & Woods lifted their price target on shares of Western Alliance Bancorporation from $93.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. TD Cowen boosted their price objective on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. boosted their price objective on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings raised shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.47.

Insider Activity

In other news, CAO Ben Mucha sold 5,946 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were 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 in the company, valued at approximately $282,285. This trade represents a 63.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.76% of the company’s stock.

About Western Alliance Bancorporation

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.