221,479 Shares in Western Alliance Bancorporation $WAL Purchased by Ieq Capital LLC

Ieq Capital LLC purchased a new position in shares of Western Alliance Bancorporation (NYSE:WAL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 221,479 shares of the financial services provider’s stock, valued at approximately $18,206,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clearstead Advisors LLC lifted its position in shares of Western Alliance Bancorporation by 144.6% in the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock valued at $35,000 after buying an additional 243 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $38,000. Assetmark Inc. increased its holdings in shares of Western Alliance Bancorporation by 86.0% during the 1st quarter. Assetmark Inc. now owns 560 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 259 shares during the last quarter. Compound Global Advisors LLC acquired a new position in shares of Western Alliance Bancorporation during the 2nd quarter worth approximately $41,000. Finally, Leonteq Securities AG bought a new stake in Western Alliance Bancorporation in the 4th quarter valued at $44,000. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL opened at $79.78 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.86 and a quick ratio of 0.81. The stock’s fifty day moving average price is $81.41 and its two-hundred day moving average price is $80.22. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 8.98, a P/E/G ratio of 0.77 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.36. The company had revenue of $995.70 million during the quarter, compared to the consensus estimate of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The company’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.07 earnings per share. On average, equities analysts forecast that Western Alliance Bancorporation will post 9.16 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be paid a $0.42 dividend. The ex-dividend date is Thursday, August 13th. This represents a $1.68 annualized dividend and a yield of 2.1%. Western Alliance Bancorporation’s payout ratio is 18.92%.

Wall Street Analysts Forecast Growth

WAL has been the subject of several research reports. UBS Group raised their price target on Western Alliance Bancorporation from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Piper Sandler upped their price objective on shares of Western Alliance Bancorporation from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Friday, July 24th. JPMorgan Chase & Co. raised their target price on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Mizuho set a $96.00 target price on shares of Western Alliance Bancorporation in a report on Thursday, July 23rd. Finally, Truist Financial upped their price target on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.47.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $81.00, for a total value of $481,626.00. Following the completion of the sale, the chief accounting officer owned 3,485 shares of the company’s stock, valued at $282,285. The trade was a 63.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.76% of the stock is owned by corporate insiders.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.