Western Alliance Bancorporation (NYSE:WAL) CAO Sells $160,710.20 in Stock

Western Alliance Bancorporation (NYSE:WAL) CAO J. Kelly Jr. Ardrey sold 2,116 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $75.95, for a total transaction of $160,710.20. Following the completion of the transaction, the chief accounting officer now owns 3,520 shares of the company’s stock, valued at $267,344. The sale was disclosed in a filing with the SEC, which is available at this link.

J. Kelly Jr. Ardrey also recently made the following trade(s):

• On Thursday, May 23rd, J. Kelly Jr. Ardrey sold 1,000 shares of Western Alliance Bancorporation stock. The stock was sold at an average price of $64.20, for a total transaction of $64,200.00.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL opened at $81.39 on Friday. The firm’s 50 day moving average price is $64.50 and its 200-day moving average price is $62.11. Western Alliance Bancorporation has a twelve month low of $38.81 and a twelve month high of $81.90. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $8.96 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 1.52 and a beta of 1.46.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Thursday, July 18th. The financial services provider reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. Western Alliance Bancorporation had a net margin of 15.54% and a return on equity of 14.18%. The company had revenue of $771.80 million for the quarter, compared to analysts’ expectations of $737.97 million. During the same quarter last year, the business earned $1.96 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. Equities research analysts expect that Western Alliance Bancorporation will post 7.37 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Thursday, May 16th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Wednesday, May 15th. Western Alliance Bancorporation’s payout ratio is 21.57%.

Analysts Set New Price Targets

WAL has been the subject of several research reports. Wells Fargo & Company increased their price target on shares of Western Alliance Bancorporation from $68.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. StockNews.com downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Western Alliance Bancorporation from $62.00 to $83.00 and gave the company a “hold” rating in a research report on Tuesday. Barclays increased their price objective on shares of Western Alliance Bancorporation from $86.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Finally, Hovde Group started coverage on shares of Western Alliance Bancorporation in a research report on Monday, April 22nd. They set an “outperform” rating and a $75.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.27.

Institutional Investors Weigh In On Western Alliance Bancorporation

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in Western Alliance Bancorporation during the 1st quarter worth approximately $27,000. GAMMA Investing LLC raised its stake in Western Alliance Bancorporation by 57.4% during the 1st quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 183 shares during the period. ORG Partners LLC bought a new stake in Western Alliance Bancorporation during the 2nd quarter worth approximately $36,000. Rakuten Securities Inc. bought a new stake in Western Alliance Bancorporation during the 4th quarter worth approximately $65,000. Finally, Versant Capital Management Inc raised its position in shares of Western Alliance Bancorporation by 26.5% during the second quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider’s stock valued at $73,000 after buying an additional 244 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

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.