Thompson Siegel & Walmsley LLC Sells 2,872 Shares of Western Alliance Bancorporation (NYSE:WAL)

Thompson Siegel & Walmsley LLC cut its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,820 shares of the financial services provider’s stock after selling 2,872 shares during the quarter. Thompson Siegel & Walmsley LLC owned about 0.08% of Western Alliance Bancorporation worth $7,336,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of WAL. Vanguard Group Inc. boosted its holdings in Western Alliance Bancorporation by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock valued at $670,170,000 after purchasing an additional 395,101 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Western Alliance Bancorporation by 16.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider’s stock worth $328,165,000 after acquiring an additional 717,242 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Western Alliance Bancorporation by 20.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock valued at $233,832,000 after acquiring an additional 636,577 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Western Alliance Bancorporation by 0.7% during the 2nd quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider’s stock worth $176,764,000 after buying an additional 20,876 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Western Alliance Bancorporation by 10.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,802,505 shares of the financial services provider’s stock valued at $155,899,000 after purchasing an additional 169,244 shares in the last quarter. 79.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Western Alliance Bancorporation

In other news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the transaction, the director now directly owns 4,056 shares in the company, valued at approximately $335,634. This trade represents a 42.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction on Monday, August 26th. The shares were sold at an average price of $81.59, for a total value of $904,261.97. Following the transaction, the insider now owns 7,977 shares of the company’s stock, valued at $650,843.43. The trade was a 58.15 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Price Performance

WAL stock opened at $91.55 on Friday. The firm has a 50 day moving average of $86.57 and a 200-day moving average of $75.30. The firm has a market capitalization of $10.08 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.44. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 12 month low of $47.60 and a 12 month high of $96.45.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10). The company had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. As a group, sell-side analysts predict that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Friday, November 15th. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 23.46%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WAL. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their price objective for the company from $83.00 to $101.00 in a report on Monday, October 7th. Wedbush upped their price target on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Truist Financial cut their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. StockNews.com cut Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Finally, Wells Fargo & Company increased their target price on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.