7,449 Shares in Western Alliance Bancorporation $WAL Purchased by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC bought a new stake in Western Alliance Bancorporation (NYSE:WAL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,449 shares of the financial services provider’s stock, valued at approximately $612,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its stake in shares of Western Alliance Bancorporation by 1.9% during the 4th quarter. Quadrant Capital Group LLC now owns 6,008 shares of the financial services provider’s stock worth $505,000 after purchasing an additional 113 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Western Alliance Bancorporation by 4.2% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,342 shares of the financial services provider’s stock valued at $237,000 after buying an additional 134 shares during the last quarter. Truist Financial Corp raised its position in shares of Western Alliance Bancorporation by 5.2% in the fourth quarter. Truist Financial Corp now owns 3,102 shares of the financial services provider’s stock valued at $261,000 after buying an additional 152 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Western Alliance Bancorporation by 39.3% during the fourth quarter. Allworth Financial LP now owns 557 shares of the financial services provider’s stock valued at $47,000 after buying an additional 157 shares during the period. Finally, Arkadios Wealth Advisors lifted its stake in shares of Western Alliance Bancorporation by 2.4% during the fourth quarter. Arkadios Wealth Advisors now owns 8,134 shares of the financial services provider’s stock valued at $684,000 after buying an additional 187 shares during the period. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WAL. Truist Financial increased their price target on Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Citigroup lifted their price objective on Western Alliance Bancorporation from $96.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. TD Cowen raised their price target on Western Alliance Bancorporation from $89.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, July 27th. Stifel Nicolaus set a $95.00 price objective on shares of Western Alliance Bancorporation in a research note on Thursday, July 23rd. Finally, Piper Sandler increased their price objective on shares of Western Alliance Bancorporation from $92.00 to $97.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Eleven 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 MarketBeat, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and an average target price of $95.47.

Insider Activity at Western Alliance Bancorporation

In related news, CAO Ben Mucha sold 5,946 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $81.00, for a total transaction of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares of the company’s stock, valued at approximately $282,285. The trade was a 63.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.76% of the company’s stock.

Western Alliance Bancorporation Stock Down 1.2%

Shares of Western Alliance Bancorporation stock opened at $80.75 on Wednesday. Western Alliance Bancorporation has a twelve month low of $65.82 and a twelve month high of $97.23. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 0.79 and a beta of 1.34. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.93. The company has a fifty day moving average price of $81.58 and a 200 day moving average price of $80.36.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 EPS for the quarter, meeting the consensus estimate of $2.36. The company had revenue of $995.70 million for the quarter, compared to analyst estimates of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The firm’s revenue was up 17.7% compared to the same quarter last year. During the same period last year, the company posted $2.07 earnings per share. Equities research analysts forecast that Western Alliance Bancorporation will post 9.16 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.1%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 18.92%.

Western Alliance Bancorporation Company 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.