Livforsakringsbolaget Skandia Omsesidigt Buys New Shares in Western Alliance Bancorporation $WAL

Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Western Alliance Bancorporation (NYSE:WAL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 38,200 shares of the financial services provider’s stock, valued at approximately $3,140,000.

Several other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new stake in Western Alliance Bancorporation in the 2nd quarter worth approximately $26,000. Clearstead Advisors LLC lifted its holdings in shares of Western Alliance Bancorporation by 144.6% in the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 243 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Western Alliance Bancorporation in the 4th quarter worth approximately $38,000. Assetmark Inc. boosted its stake in shares of Western Alliance Bancorporation by 86.0% in the 1st quarter. Assetmark Inc. now owns 560 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 259 shares in the last quarter. Finally, Compound Global Advisors LLC bought a new position in shares of Western Alliance Bancorporation during the 2nd quarter valued at $41,000. 79.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WAL has been the subject of several analyst reports. TD Cowen upped their price target on shares of Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, July 27th. Wells Fargo & Company raised their price target 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 objective on Western Alliance Bancorporation and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Stifel Nicolaus set a $95.00 target price on shares of Western Alliance Bancorporation in a report on Thursday, July 23rd. Finally, DA Davidson set a $36.00 price target on shares of Western Alliance Bancorporation in a report on Wednesday, July 22nd. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.47.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the company’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 owned 3,485 shares in the company, valued at approximately $282,285. This represents a 63.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.76% of the company’s stock.

Western Alliance Bancorporation Stock Up 0.0%

Shares of NYSE WAL opened at $78.72 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.93. Western Alliance Bancorporation has a 12 month low of $65.82 and a 12 month high of $97.23. The firm has a market capitalization of $8.59 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 0.76 and a beta of 1.34. The firm has a fifty day simple moving average of $81.29 and a two-hundred day simple moving average of $79.78.

Western Alliance Bancorporation (NYSE:WAL) last announced 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 net margin of 17.20% and a return on equity of 13.40%. The firm had revenue of $995.70 million for the quarter, compared to analyst estimates of $980.53 million. During the same quarter in the previous year, the firm posted $2.07 EPS. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. Equities analysts expect that Western Alliance Bancorporation will post 9.16 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

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