MIdWestOne Financial Group Inc. Has $3.93 Million Stake in Western Alliance Bancorporation $WAL

MIdWestOne Financial Group Inc. boosted its stake in Western Alliance Bancorporation (NYSE:WAL) by 28.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,799 shares of the financial services provider’s stock after purchasing an additional 10,240 shares during the period. MIdWestOne Financial Group Inc.’s holdings in Western Alliance Bancorporation were worth $3,934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of WAL. Clearstead Advisors LLC increased its holdings in 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 purchasing an additional 243 shares during the period. Community Bank N.A. acquired a new stake in Western Alliance Bancorporation in the third quarter valued at $37,000. Los Angeles Capital Management LLC acquired a new stake in Western Alliance Bancorporation in the fourth quarter valued at $38,000. Smartleaf Asset Management LLC increased its holdings in Western Alliance Bancorporation by 113.0% in the third quarter. Smartleaf Asset Management LLC now owns 443 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 235 shares during the period. Finally, Leonteq Securities AG acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth about $44,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WAL shares. JPMorgan Chase & Co. decreased their price target on Western Alliance Bancorporation from $105.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. UBS Group increased their price target on Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. TD Cowen downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating and set a $83.00 price target for the company. in a report on Monday, March 9th. Jefferies Financial Group reiterated an “overweight” rating and set a $105.00 price target on shares of Western Alliance Bancorporation in a report on Friday, March 6th. Finally, Barclays decreased their price target on Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.93.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $82.34 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.86 and a quick ratio of 0.81. The stock has a 50-day moving average of $78.23 and a 200-day moving average of $81.92. The company has a market cap of $8.99 billion, a PE ratio of 9.59, a P/E/G ratio of 0.62 and a beta of 1.34. Western Alliance Bancorporation has a one year low of $65.82 and a one year high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.74. The business had revenue of $968.40 million for the quarter, compared to analysts’ expectations of $944.18 million. Western Alliance Bancorporation had a net margin of 17.03% and a return on equity of 13.58%. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.79 EPS. On average, equities research analysts predict that Western Alliance Bancorporation will post 9.8 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were paid a dividend of $0.42 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.68 dividend on an annualized basis and a yield of 2.0%. Western Alliance Bancorporation’s payout ratio is 19.56%.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation 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 transaction of $481,626.00. Following the completion of the transaction, the chief accounting officer owned 3,485 shares in the company, valued at approximately $282,285. The trade was a 63.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.68% of the company’s stock.

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.