Squarepoint Ops LLC Sells 226,768 Shares of Western Alliance Bancorporation $WAL

Squarepoint Ops LLC trimmed its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 53.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 194,087 shares of the financial services provider’s stock after selling 226,768 shares during the period. Squarepoint Ops LLC’s holdings in Western Alliance Bancorporation were worth $15,954,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Western Alliance Bancorporation in the 2nd quarter valued at approximately $174,329,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of Western Alliance Bancorporation during the second quarter valued at approximately $1,877,000. Independent Financial Group LLC bought a new stake in shares of Western Alliance Bancorporation during the first quarter valued at approximately $924,000. Hsbc Holdings PLC raised its stake in shares of Western Alliance Bancorporation by 635.0% in the first 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 in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Western Alliance Bancorporation by 2,313.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 18,895 shares of the financial services provider’s stock valued at $1,589,000 after purchasing an additional 18,112 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WAL shares. DA Davidson set a $36.00 price target on shares of Western Alliance Bancorporation in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. increased their price objective on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. TD Cowen raised their price objective on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, July 27th. Citigroup upped their target price on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Finally, Truist Financial increased their price target on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.47.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $79.61 on Thursday. The stock has a market capitalization of $8.69 billion, a P/E ratio of 8.97, a price-to-earnings-growth ratio of 0.77 and a beta of 1.33. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.93. Western Alliance Bancorporation has a 1 year low of $65.82 and a 1 year high of $97.23. The firm has a 50 day moving average of $81.01 and a 200-day moving average of $78.86.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.36 EPS for the quarter, hitting analysts’ consensus estimates of $2.36. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The business had revenue of $995.70 million for the quarter, compared to analyst estimates of $980.53 million. During the same period in the prior year, the company earned $2.07 EPS. Western Alliance Bancorporation’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.16 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, August 13th. Western Alliance Bancorporation’s dividend payout ratio is presently 18.92%.

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.