Western Alliance Bancorporation (NYSE:WAL) Stock Unloaded Rep. Lance Gooden

Representative Lance Gooden (R-Texas) recently sold shares of Western Alliance Bancorporation (NYSE:WAL). In a filing disclosed on December 12th, the Representative disclosed that they had sold between $50,001 and $100,000 in Western Alliance Bancorporation stock on November 15th.

Western Alliance Bancorporation Stock Down 0.8 %

WAL stock opened at $89.70 on Friday. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The firm’s fifty day moving average is $89.09 and its 200 day moving average is $78.62. The firm has a market cap of $9.87 billion, a PE ratio of 13.84, a P/E/G ratio of 1.41 and a beta of 1.45.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The business had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. On average, research analysts forecast that Western Alliance Bancorporation will post 7.14 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.38 dividend. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Friday, November 15th. Western Alliance Bancorporation’s payout ratio is currently 23.46%.

Analysts Set New Price Targets

WAL has been the subject of a number of recent analyst reports. Truist Financial cut their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 21st. JPMorgan Chase & Co. cut their price target on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Wedbush lifted their target price 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. Barclays upped their price target on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company lifted their price objective on Western Alliance Bancorporation from $92.00 to $102.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.40.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its holdings in shares of Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 187 shares during the period. UMB Bank n.a. grew its stake in shares of Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after buying an additional 249 shares during the period. Signaturefd LLC increased its holdings in shares of Western Alliance Bancorporation by 18.7% during the 3rd quarter. Signaturefd LLC now owns 1,598 shares of the financial services provider’s stock worth $138,000 after buying an additional 252 shares during the last quarter. Wedmont Private Capital raised its position in shares of Western Alliance Bancorporation by 5.7% during the 3rd quarter. Wedmont Private Capital now owns 5,102 shares of the financial services provider’s stock valued at $429,000 after buying an additional 276 shares during the period. Finally, Creative Planning lifted its holdings in Western Alliance Bancorporation by 6.1% in the second quarter. Creative Planning now owns 5,756 shares of the financial services provider’s stock valued at $362,000 after acquiring an additional 330 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

About Representative Gooden

Lance Gooden (Republican Party) is a member of the U.S. House, representing Texas’ 5th Congressional District. He assumed office on January 3, 2019. His current term ends on January 3, 2025. Gooden (Republican Party) is running for re-election to the U.S. House to represent Texas’ 5th Congressional District. He declared candidacy for the Republican primary scheduled on March 5, 2024. Before being elected to Congress, Gooden was a member of the Texas House of Representatives, representing District 4 from 2011 to 2015 and from 2017 to 2019. Gooden has also worked as an insurance and risk-management consultant. Lance Gooden was born in Terrell, Texas. He graduated from Terrell High School. He earned a bachelor’s degree in finance and government from the University of Texas. Gooden’s career experience includes working as an insurance broker.

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.