38,200 Shares in Western Alliance Bancorporation $WAL Purchased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 38,200 shares of the financial services provider’s stock, valued at approximately $3,140,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WAL. NewEdge Advisors LLC increased its position in Western Alliance Bancorporation by 71.2% during the 1st quarter. NewEdge Advisors LLC now owns 7,815 shares of the financial services provider’s stock valued at $600,000 after buying an additional 3,249 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Western Alliance Bancorporation by 513.5% in the first quarter. Jones Financial Companies Lllp now owns 1,730 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 1,448 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Western Alliance Bancorporation by 24.0% in the first quarter. Goldman Sachs Group Inc. now owns 111,883 shares of the financial services provider’s stock worth $8,596,000 after acquiring an additional 21,642 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Western Alliance Bancorporation by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,529 shares of the financial services provider’s stock valued at $26,701,000 after acquiring an additional 35,276 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Western Alliance Bancorporation by 11.3% during the second quarter. Cetera Investment Advisers now owns 7,017 shares of the financial services provider’s stock valued at $547,000 after acquiring an additional 713 shares in the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Wall Street Analysts Forecast Growth

WAL has been the topic of several recent analyst reports. Truist Financial increased their price objective on shares of Western Alliance Bancorporation from $90.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, July 27th. DA Davidson set a $36.00 price target on shares of Western Alliance Bancorporation in a report on Wednesday, July 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Western Alliance Bancorporation in a research report on Friday, August 21st. Wells Fargo & Company boosted their price objective on shares of Western Alliance Bancorporation from $79.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Finally, Stifel Nicolaus set a $95.00 target price on Western Alliance Bancorporation in a research note on Thursday, July 23rd. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.47.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock opened at $78.72 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 0.93. The company has a 50 day moving average price of $81.29 and a 200-day moving average price of $79.78. Western Alliance Bancorporation has a 52 week low of $65.82 and a 52 week high of $97.23. The firm has a market capitalization of $8.59 billion, a PE ratio of 8.86, a P/E/G ratio of 0.76 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data 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 company had revenue of $995.70 million for the quarter, compared to the consensus estimate of $980.53 million. During the same quarter in the prior year, the firm earned $2.07 earnings per share. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, equities research 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 declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, August 13th. Western Alliance Bancorporation’s dividend payout ratio is presently 18.92%.

Insider Activity

In other news, CAO Ben Mucha sold 5,946 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $81.00, for a total value of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares in the company, valued at $282,285. This trade represents a 63.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.76% of the stock is currently owned by company insiders.

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.