Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Riverwater Partners LLC

Riverwater Partners LLC cut its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 23.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 22,329 shares of the financial services provider’s stock after selling 6,862 shares during the period. Western Alliance Bancorporation comprises about 0.9% of Riverwater Partners LLC’s holdings, making the stock its 28th biggest holding. Riverwater Partners LLC’s holdings in Western Alliance Bancorporation were worth $1,854,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WAL. Cincinnati Insurance Co. acquired a new stake in shares of Western Alliance Bancorporation in the first quarter worth approximately $46,538,000. LHM Inc. boosted its stake in Western Alliance Bancorporation by 2,141.1% during the 2nd quarter. LHM Inc. now owns 757,809 shares of the financial services provider’s stock worth $47,606,000 after purchasing an additional 723,995 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Western Alliance Bancorporation by 16.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider’s stock worth $328,165,000 after buying an additional 717,242 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Western Alliance Bancorporation by 20.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock valued at $233,832,000 after buying an additional 636,577 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Western Alliance Bancorporation by 3.9% during the first quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider’s stock worth $670,170,000 after acquiring an additional 395,101 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WAL has been the subject of a number of recent research reports. Piper Sandler cut their price objective on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a report on Monday. Barclays reduced their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday. Jefferies Financial Group upped their target price on Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Royal Bank of Canada set a $99.00 price target on Western Alliance Bancorporation and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Stephens restated an “overweight” rating and set a $102.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Western Alliance Bancorporation has an average rating of “Moderate Buy” and an average price target of $92.60.

Insider Buying and Selling at Western Alliance Bancorporation

In other news, insider Stephen Russell Curley sold 5,070 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $76.43, for a total transaction of $387,500.10. Following the completion of the transaction, the insider now directly owns 36,718 shares of the company’s stock, valued at approximately $2,806,356.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the transaction, the director now owns 4,056 shares of the company’s stock, valued at approximately $335,634. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Russell Curley sold 5,070 shares of Western Alliance Bancorporation stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $76.43, for a total value of $387,500.10. Following the sale, the insider now owns 36,718 shares in the company, valued at $2,806,356.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,149 shares of company stock valued at $1,539,681 in the last quarter. Corporate insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation Price Performance

NYSE:WAL opened at $82.34 on Thursday. Western Alliance Bancorporation has a 52 week low of $38.81 and a 52 week high of $94.28. The stock’s fifty day moving average is $83.04 and its two-hundred day moving average is $71.03. The stock has a market capitalization of $9.06 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.28 and a beta of 1.44. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.07.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Friday, August 16th. Western Alliance Bancorporation’s payout ratio is currently 22.84%.

Western Alliance Bancorporation 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.