Inspire Advisors LLC Raises Position in Western Alliance Bancorporation $WAL

Inspire Advisors LLC lifted its position in Western Alliance Bancorporation (NYSE:WAL) by 25.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,404 shares of the financial services provider’s stock after acquiring an additional 2,333 shares during the period. Inspire Advisors LLC’s holdings in Western Alliance Bancorporation were worth $889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in WAL. GAMMA Investing LLC lifted its position in Western Alliance Bancorporation by 6.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,317 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 136 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Western Alliance Bancorporation by 22.7% in the first quarter. National Bank of Canada FI now owns 763 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 141 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Western Alliance Bancorporation by 4.0% during the second quarter. ProShare Advisors LLC now owns 4,833 shares of the financial services provider’s stock valued at $377,000 after purchasing an additional 188 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Western Alliance Bancorporation by 14.8% during the second quarter. Signaturefd LLC now owns 1,654 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 213 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT increased its holdings in Western Alliance Bancorporation by 3.2% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 8,148 shares of the financial services provider’s stock worth $626,000 after buying an additional 256 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Up 0.2%

WAL opened at $73.98 on Wednesday. The firm’s 50 day simple moving average is $81.88 and its two-hundred day simple moving average is $80.33. The company has a market capitalization of $8.14 billion, a PE ratio of 9.14, a PEG ratio of 0.52 and a beta of 1.45. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $98.10. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Wednesday, February 14th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 12.93%. The company had revenue of $718.00 million during the quarter. As a group, equities analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Thursday, November 13th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, November 13th. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a yield of 2.3%. Western Alliance Bancorporation’s payout ratio is presently 20.77%.

Insider Transactions at Western Alliance Bancorporation

In related news, CFO Dale Gibbons bought 4,000 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were purchased at an average price of $77.00 per share, with a total value of $308,000.00. Following the transaction, the chief financial officer owned 300,358 shares in the company, valued at $23,127,566. This trade represents a 1.35% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Industrial Alliance Securities set a $95.00 price objective on shares of Western Alliance Bancorporation in a research report on Thursday, October 23rd. Truist Financial raised their target price on shares of Western Alliance Bancorporation from $92.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Weiss Ratings lowered shares of Western Alliance Bancorporation from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. Finally, UBS Group dropped their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and an average price target of $100.53.

Western Alliance Bancorporation 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.