995 Shares in Western Alliance Bancorporation (NYSE:WAL) Acquired by Brooklyn Investment Group

Brooklyn Investment Group acquired a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 995 shares of the financial services provider’s stock, valued at approximately $86,000.

Several other large investors have also recently bought and sold shares of WAL. Dimensional Fund Advisors LP grew its holdings in shares of Western Alliance Bancorporation by 20.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock valued at $233,832,000 after buying an additional 636,577 shares during the period. William Blair Investment Management LLC lifted its holdings in Western Alliance Bancorporation by 0.7% during the second quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider’s stock worth $176,764,000 after acquiring an additional 20,876 shares in the last quarter. FMR LLC grew its stake in Western Alliance Bancorporation by 93.3% in the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock valued at $241,568,000 after acquiring an additional 1,347,921 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Western Alliance Bancorporation by 10.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,802,505 shares of the financial services provider’s stock worth $155,899,000 after acquiring an additional 169,244 shares in the last quarter. Finally, Smead Capital Management Inc. raised its position in shares of Western Alliance Bancorporation by 3.5% during the third quarter. Smead Capital Management Inc. now owns 1,350,195 shares of the financial services provider’s stock worth $116,778,000 after purchasing an additional 45,543 shares during the period. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Trading Down 0.6 %

NYSE WAL opened at $93.50 on Friday. Western Alliance Bancorporation has a 12 month low of $47.60 and a 12 month high of $98.10. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average of $87.57 and a 200-day moving average of $76.38. The company has a market cap of $10.29 billion, a PE ratio of 14.43, a PEG ratio of 1.47 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly 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). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The firm had revenue of $833.10 million during the quarter, compared to analyst estimates of $811.40 million. On average, equities research analysts anticipate that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

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

Insiders Place Their Bets

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 stock was 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. The trade was a 42.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.75% of the company’s stock.

Analysts Set New Price Targets

WAL has been the subject of several research analyst reports. Truist Financial decreased 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. lowered their price objective on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Stephens reaffirmed an “overweight” rating and issued a $102.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday, October 18th. Wedbush upped their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Finally, Barclays lifted their price target on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Western Alliance Bancorporation has an average rating of “Moderate Buy” and a consensus price target of $92.73.

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.