Western Alliance Bancorporation (NYSE:WAL) Director Robert P. Latta Sells 2,996 Shares

Western Alliance Bancorporation (NYSE:WAL) Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the sale, the director now owns 4,056 shares in the company, valued at $335,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Western Alliance Bancorporation Stock Down 2.2 %

WAL stock opened at $78.69 on Thursday. The stock has a market capitalization of $8.66 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.49 and a beta of 1.44. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.88 and a quick ratio of 0.85. Western Alliance Bancorporation has a 1-year low of $38.81 and a 1-year high of $85.96. The business has a fifty day moving average price of $75.61 and a 200-day moving average price of $65.72.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. The business had revenue of $771.80 million during the quarter, compared to analyst estimates of $737.97 million. Western Alliance Bancorporation had a return on equity of 13.98% and a net margin of 15.54%. Western Alliance Bancorporation’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.96 EPS. Equities analysts forecast that Western Alliance Bancorporation will post 7.4 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.48 dividend on an annualized basis and a yield of 1.88%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.57%.

Analysts Set New Price Targets

A number of analysts have recently commented on WAL shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Western Alliance Bancorporation from $62.00 to $83.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Barclays boosted their price objective on shares of Western Alliance Bancorporation from $86.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Wells Fargo & Company raised 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. Royal Bank of Canada boosted their price target on Western Alliance Bancorporation from $78.00 to $87.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group raised their price objective on Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.27.

Institutional Investors Weigh In On Western Alliance Bancorporation

Large investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new stake in shares of Western Alliance Bancorporation in the second quarter worth $221,000. LHM Inc. grew its stake in shares of Western Alliance Bancorporation by 55.4% during the 2nd quarter. LHM Inc. now owns 52,554 shares of the financial services provider’s stock valued at $3,301,000 after purchasing an additional 18,740 shares during the period. Creative Planning grew its stake in shares of Western Alliance Bancorporation by 6.1% during the 2nd quarter. Creative Planning now owns 5,756 shares of the financial services provider’s stock valued at $362,000 after purchasing an additional 330 shares during the period. Algert Global LLC lifted its stake in shares of Western Alliance Bancorporation by 18.8% in the 2nd quarter. Algert Global LLC now owns 145,540 shares of the financial services provider’s stock worth $9,143,000 after purchasing an additional 22,989 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Western Alliance Bancorporation by 0.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 523,425 shares of the financial services provider’s stock worth $32,882,000 after purchasing an additional 4,801 shares during the period. Institutional investors own 79.15% of the company’s stock.

About Western Alliance Bancorporation

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.