Glenmede Trust Co. NA Has $26.98 Million Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Glenmede Trust Co. NA decreased its holdings in Western Alliance Bancorporation (NYSE:WAL) by 1.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 311,986 shares of the financial services provider’s stock after selling 4,669 shares during the period. Glenmede Trust Co. NA owned about 0.28% of Western Alliance Bancorporation worth $26,984,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Blue Trust Inc. raised its stake in Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 187 shares during the period. Versant Capital Management Inc raised its position in shares of Western Alliance Bancorporation by 26.5% in the second quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 244 shares during the period. UMB Bank n.a. increased its stake in shares of Western Alliance Bancorporation by 136.8% during the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 249 shares during the period. Signaturefd LLC boosted its stake in Western Alliance Bancorporation by 18.7% in the 3rd quarter. Signaturefd LLC now owns 1,598 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 252 shares during the period. Finally, Wedmont Private Capital grew its holdings in Western Alliance Bancorporation by 5.7% in 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 in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WAL. Wells Fargo & Company lifted their target price on Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Stephens restated an “overweight” rating and set a $102.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. JPMorgan Chase & Co. decreased their price target on Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Truist Financial dropped 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. Finally, Piper Sandler decreased their target price on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.73.

Western Alliance Bancorporation Stock Down 0.6 %

Shares of NYSE WAL opened at $93.50 on Thursday. The company’s 50 day moving average price is $87.47 and its 200-day moving average price is $76.26. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. Western Alliance Bancorporation has a 52-week low of $47.60 and a 52-week high of $98.10. The company has a market capitalization of $10.29 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44.

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

Western Alliance Bancorporation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Friday, November 15th. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s payout ratio is presently 23.46%.

Insider Buying and Selling

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the transaction, the director now owns 4,056 shares in the company, valued at approximately $335,634. This represents a 42.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.75% of the stock is owned by insiders.

About Western Alliance Bancorporation

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.