Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC cut its holdings in Western Alliance Bancorporation (NYSE:WAL) by 24.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,248 shares of the financial services provider’s stock after selling 26,573 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.08% of Western Alliance Bancorporation worth $7,637,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Montreal Can increased its stake in Western Alliance Bancorporation by 775.9% in the first quarter. Bank of Montreal Can now owns 371,611 shares of the financial services provider’s stock valued at $34,200,000 after purchasing an additional 329,183 shares during the period. Sit Investment Associates Inc. purchased a new stake in shares of Western Alliance Bancorporation in the first quarter valued at about $2,290,000. Segall Bryant & Hamill LLC boosted its holdings in shares of Western Alliance Bancorporation by 25.2% in the second quarter. Segall Bryant & Hamill LLC now owns 595,079 shares of the financial services provider’s stock valued at $55,245,000 after acquiring an additional 119,642 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Western Alliance Bancorporation by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 633,766 shares of the financial services provider’s stock valued at $58,845,000 after acquiring an additional 14,476 shares in the last quarter. Finally, Teza Capital Management LLC boosted its holdings in shares of Western Alliance Bancorporation by 178.0% in the second quarter. Teza Capital Management LLC now owns 5,975 shares of the financial services provider’s stock valued at $555,000 after acquiring an additional 3,826 shares in the last quarter. Institutional investors own 85.80% of the company’s stock.

WAL has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a report on Thursday, September 16th. TheStreet raised shares of Western Alliance Bancorporation from a “c+” rating to a “b-” rating in a report on Thursday, October 7th. Jefferies Financial Group boosted their price objective on shares of Western Alliance Bancorporation from $116.00 to $131.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company upped their price target on shares of Western Alliance Bancorporation from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, October 7th. Finally, Royal Bank of Canada boosted their price objective on shares of Western Alliance Bancorporation from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Monday, July 19th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $98.79.

In other news, Director Robert P. Latta sold 2,350 shares of the company’s stock in a transaction on Monday, August 9th. The shares were sold at an average price of $99.76, for a total value of $234,436.00. Following the completion of the transaction, the director now directly owns 3,074 shares in the company, valued at $306,662.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Robert Gary Sarver bought 200,000 shares of the firm’s stock in a transaction dated Wednesday, September 15th. The stock was purchased at an average price of $25.00 per share, with a total value of $5,000,000.00. Following the completion of the purchase, the chairman now directly owns 48,044 shares of the company’s stock, valued at approximately $1,201,100. The disclosure for this purchase can be found here. 2.81% of the stock is owned by corporate insiders.

Shares of WAL stock opened at $111.56 on Thursday. Western Alliance Bancorporation has a one year low of $36.54 and a one year high of $114.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.79 and a current ratio of 0.90. The company has a 50 day moving average price of $100.68 and a 200 day moving average price of $98.80. The firm has a market capitalization of $11.63 billion, a price-to-earnings ratio of 15.16 and a beta of 1.69.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Wednesday, July 14th. The financial services provider reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.15. Western Alliance Bancorporation had a net margin of 47.52% and a return on equity of 21.08%. The company had revenue of $506.50 million during the quarter, compared to analyst estimates of $494.56 million. During the same quarter in the prior year, the business earned $0.93 earnings per share. As a group, equities analysts forecast that Western Alliance Bancorporation will post 8.63 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Friday, August 13th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.25%. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.25. Western Alliance Bancorporation’s dividend payout ratio is presently 27.78%.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorp is a bank holding company, which engages in the provision of deposit, lending, treasury management, international banking, and online banking products and services. It operates through the following business segments: Commercial; Consumer Related, and Corporate and Other. The Commercial segment focuses in delivering commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry.

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Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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