443,825 Shares in Western Alliance Bancorporation (NYSE:WAL) Acquired by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP bought a new stake in Western Alliance Bancorporation (NYSE:WAL) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 443,825 shares of the financial services provider’s stock, valued at approximately $38,386,000.

Other large investors have also modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of Western Alliance Bancorporation by 0.6% during the 1st quarter. Russell Investments Group Ltd. now owns 29,768 shares of the financial services provider’s stock worth $1,911,000 after purchasing an additional 164 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in Western Alliance Bancorporation during the first quarter worth about $217,000. CANADA LIFE ASSURANCE Co increased its position in shares of Western Alliance Bancorporation by 7.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 48,803 shares of the financial services provider’s stock valued at $3,131,000 after acquiring an additional 3,221 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Western Alliance Bancorporation by 16.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider’s stock valued at $328,165,000 after acquiring an additional 717,242 shares during the period. Finally, Plato Investment Management Ltd lifted its holdings in shares of Western Alliance Bancorporation by 246.1% in the 1st quarter. Plato Investment Management Ltd now owns 1,883 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 1,339 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Insider Buying and Selling at Western Alliance Bancorporation

In related news, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 4,056 shares of the company’s stock, valued at $335,634. The trade was a 42.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.75% of the stock is currently owned by insiders.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock opened at $93.65 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $86.81 and a 200-day simple moving average of $75.70. The stock has a market cap of $10.31 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 1.47 and a beta of 1.44. Western Alliance Bancorporation has a 12-month low of $47.60 and a 12-month high of $96.45.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. The business had revenue of $833.10 million for the quarter, compared to analysts’ expectations of $811.40 million. Equities analysts expect that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.62%. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio is 23.46%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Barclays lifted their target price on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Piper Sandler cut their price objective on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. JPMorgan Chase & Co. decreased their target price on Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Wedbush lifted their target price on Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company increased their price target on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

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.