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

OneDigital Investment Advisors LLC acquired a new position in Western Alliance Bancorporation (NYSE:WAL) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,449 shares of the financial services provider’s stock, valued at approximately $612,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter valued at about $125,482,000. Bank of New York Mellon Corp acquired a new position in shares of Western Alliance Bancorporation in the second quarter worth about $72,621,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Western Alliance Bancorporation by 9.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,746,867 shares of the financial services provider’s stock worth $735,350,000 after acquiring an additional 777,369 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Western Alliance Bancorporation by 7.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,450,408 shares of the financial services provider’s stock valued at $542,286,000 after purchasing an additional 470,492 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Western Alliance Bancorporation by 2,331.6% during the 4th quarter. AQR Capital Management LLC now owns 485,508 shares of the financial services provider’s stock valued at $40,817,000 after purchasing an additional 465,541 shares in the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 completion of the transaction, the chief accounting officer directly owned 3,485 shares of the company’s stock, valued at approximately $282,285. This represents a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on WAL shares. Keefe, Bruyette & Woods upped their target price on Western Alliance Bancorporation from $93.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Citigroup raised their price objective on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. UBS Group boosted their target price on shares of Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Stifel Nicolaus set a $95.00 target price on shares of Western Alliance Bancorporation in a research note on Thursday, July 23rd. Finally, Truist Financial increased their price target on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.47.

Western Alliance Bancorporation Stock Down 1.2%

WAL stock opened at $80.75 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.86 and a quick ratio of 0.81. Western Alliance Bancorporation has a 1-year low of $65.82 and a 1-year high of $97.23. The firm has a fifty day moving average price of $81.58 and a two-hundred day moving average price of $80.36. The firm has a market cap of $8.81 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 0.79 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $995.70 million for the quarter, compared to the consensus estimate of $980.53 million. During the same period last year, the firm posted $2.07 EPS. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. Research analysts predict that Western Alliance Bancorporation will post 9.16 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Thursday, August 13th. Western Alliance Bancorporation’s payout ratio is presently 18.92%.

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.