2,761 Shares in Western Alliance Bancorporation (NYSE:WAL) Bought by PFS Investments Inc.

PFS Investments Inc. bought a new position in shares of Western Alliance Bancorporation (NYSE:WALGet Rating) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,761 shares of the financial services provider’s stock, valued at approximately $297,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. National Bank of Canada FI acquired a new position in Western Alliance Bancorporation during the 4th quarter worth approximately $46,000. Quadrant Capital Group LLC grew its holdings in shares of Western Alliance Bancorporation by 34.7% in the 4th quarter. Quadrant Capital Group LLC now owns 559 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 144 shares in the last quarter. UMB Bank N A MO acquired a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at about $85,000. O Shaughnessy Asset Management LLC boosted its position in Western Alliance Bancorporation by 2,395.1% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,023 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 982 shares during the last quarter. Finally, Bell Investment Advisors Inc bought a new position in Western Alliance Bancorporation in the third quarter valued at approximately $127,000. 87.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:WAL opened at $74.45 on Monday. Western Alliance Bancorporation has a 12-month low of $71.68 and a 12-month high of $124.93. The business has a 50 day moving average of $79.46 and a 200-day moving average of $96.38. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. The stock has a market cap of $8.06 billion, a PE ratio of 8.28, a P/E/G ratio of 0.76 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WALGet Rating) last released its quarterly earnings results on Thursday, April 21st. The financial services provider reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.13. The business had revenue of $555.80 million during the quarter, compared to the consensus estimate of $540.09 million. Western Alliance Bancorporation had a return on equity of 21.77% and a net margin of 41.03%. The firm’s quarterly revenue was up 64.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 EPS. Equities research analysts expect that Western Alliance Bancorporation will post 9.79 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Friday, May 13th will be paid a $0.35 dividend. The ex-dividend date is Thursday, May 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.88%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 15.57%.

In other news, General Counsel Randall S. Theisen sold 6,574 shares of the company’s stock in a transaction on Thursday, February 24th. The stock was sold at an average price of $90.00, for a total transaction of $591,660.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO J. Kelly Jr. Ardrey purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The stock was bought at an average price of $73.57 per share, for a total transaction of $147,140.00. Following the transaction, the chief accounting officer now directly owns 8,090 shares of the company’s stock, valued at approximately $595,181.30. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 5,150 shares of company stock worth $394,784. 2.81% of the stock is owned by insiders.

WAL has been the subject of several recent analyst reports. Truist Financial cut their price objective on Western Alliance Bancorporation from $140.00 to $110.00 in a report on Tuesday, April 26th. Zacks Investment Research downgraded shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a research report on Wednesday, February 2nd. Wedbush boosted their price objective on shares of Western Alliance Bancorporation from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, April 25th. Piper Sandler cut their target price on shares of Western Alliance Bancorporation to $105.00 in a research note on Friday. Finally, StockNews.com initiated coverage on Western Alliance Bancorporation in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Western Alliance Bancorporation has a consensus rating of “Buy” and a consensus price target of $125.67.

About Western Alliance Bancorporation (Get Rating)

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates in Commercial, Consumer Related, and Corporate & Other segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; and treasury management and residential mortgage products and services.

See Also

Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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