Western Alliance Bancorporation (NYSE:WAL) Position Reduced by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC lowered its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 5.8% during the second quarter, Holdings Channel reports. The fund owned 87,692 shares of the financial services provider’s stock after selling 5,359 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Western Alliance Bancorporation were worth $5,509,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Western Alliance Bancorporation by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock worth $670,170,000 after purchasing an additional 395,101 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Western Alliance Bancorporation in the fourth quarter worth $917,000. SG Americas Securities LLC grew its holdings in shares of Western Alliance Bancorporation by 1,706.9% during the first quarter. SG Americas Securities LLC now owns 30,898 shares of the financial services provider’s stock valued at $1,983,000 after buying an additional 29,188 shares in the last quarter. M&G Plc raised its position in Western Alliance Bancorporation by 12.4% during the second quarter. M&G Plc now owns 133,670 shares of the financial services provider’s stock valued at $8,421,000 after buying an additional 14,734 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in Western Alliance Bancorporation by 166.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 32,349 shares of the financial services provider’s stock worth $2,128,000 after acquiring an additional 20,198 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Insider Activity

In related news, insider Barbara Kennedy sold 11,083 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the transaction, the insider now owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Western Alliance Bancorporation news, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the transaction, the insider now directly owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $75.95, for a total value of $160,710.20. Following the completion of the sale, the chief accounting officer now directly owns 3,520 shares of the company’s stock, valued at $267,344. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,265 shares of company stock valued at $1,700,391. 2.75% of the stock is owned by insiders.

Western Alliance Bancorporation Stock Performance

Shares of NYSE WAL opened at $81.91 on Monday. The business’s 50-day simple moving average is $76.28 and its 200-day simple moving average is $66.09. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.88. Western Alliance Bancorporation has a 52 week low of $38.81 and a 52 week high of $85.96. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 1.49 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.71 by $0.04. Western Alliance Bancorporation had a return on equity of 13.98% and a net margin of 15.54%. The company had revenue of $771.80 million for the quarter, compared to the consensus estimate of $737.97 million. During the same quarter last year, the company posted $1.96 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, equities research analysts expect that Western Alliance Bancorporation will post 7.4 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Friday, August 16th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.57%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. StockNews.com downgraded Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Jefferies Financial Group upped their price objective on shares of Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Wells Fargo & Company lifted their target price on shares of Western Alliance Bancorporation from $68.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Truist Financial upped their price target on shares of Western Alliance Bancorporation from $74.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Western Alliance Bancorporation from $62.00 to $83.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $84.27.

Western Alliance Bancorporation Company Profile

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 through Commercial and Consumer Related 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; demand deposits; and treasury management and residential mortgage products and services.