Western Alliance Bancorporation $WAL Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 6.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,389,690 shares of the financial services provider’s stock after selling 311,575 shares during the quarter. Wellington Management Group LLP owned approximately 4.02% of Western Alliance Bancorporation worth $360,833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WAL. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Western Alliance Bancorporation in the second quarter valued at approximately $26,000. Clearstead Advisors LLC boosted its stake in shares of Western Alliance Bancorporation by 144.6% during the fourth quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 243 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Western Alliance Bancorporation in the 4th quarter valued at about $38,000. Assetmark Inc. raised its position in shares of Western Alliance Bancorporation by 86.0% in the first quarter. Assetmark Inc. now owns 560 shares of the financial services provider’s stock valued at $40,000 after buying an additional 259 shares during the last quarter. Finally, Compound Global Advisors LLC acquired a new stake in Western Alliance Bancorporation during the second quarter worth approximately $41,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Insider Buying and Selling at Western Alliance Bancorporation

In other news, CAO Ben Mucha sold 5,946 shares of Western Alliance Bancorporation stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $81.00, for a total value of $481,626.00. Following the transaction, the chief accounting officer directly 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 this link. 2.76% of the stock is owned by corporate insiders.

Western Alliance Bancorporation Trading Up 0.2%

WAL stock opened at $78.72 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 0.93. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 0.76 and a beta of 1.34. The business has a fifty day simple moving average of $81.29 and a 200-day simple moving average of $79.66. Western Alliance Bancorporation has a 52 week low of $65.82 and a 52 week high of $97.23.

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

Western Alliance Bancorporation Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WAL. Citigroup raised their price objective on Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Stifel Nicolaus set a $95.00 target price on Western Alliance Bancorporation in a research note on Thursday, July 23rd. Wells Fargo & Company increased their target price on Western Alliance Bancorporation from $79.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Stephens set a $95.00 price target on Western Alliance Bancorporation and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Finally, Mizuho set a $96.00 price target on Western Alliance Bancorporation in a report on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.47.

About Western Alliance Bancorporation

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.