Ingalls & Snyder LLC purchased a new position in Western Alliance Bancorporation (NYSE:WAL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,379 shares of the financial services provider’s stock, valued at approximately $202,000.
Several other large investors also recently modified their holdings of the stock. Bessemer Group Inc. lifted its holdings in Western Alliance Bancorporation by 1,048.3% during the second quarter. Bessemer Group Inc. now owns 666 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 608 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of Western Alliance Bancorporation during the second quarter valued at about $31,000. Pearl River Capital LLC bought a new stake in shares of Western Alliance Bancorporation during the second quarter valued at about $37,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Western Alliance Bancorporation during the second quarter valued at about $44,000. Finally, Enterprise Trust & Investment Co bought a new stake in shares of Western Alliance Bancorporation during the second quarter valued at about $89,000. 83.91% of the stock is currently owned by institutional investors.
Several equities research analysts have recently weighed in on WAL shares. Citigroup set a $58.00 price target on Western Alliance Bancorporation and gave the company a “buy” rating in a research report on Monday, October 21st. Zacks Investment Research upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Saturday, October 26th. Piper Jaffray Companies set a $62.00 price target on Western Alliance Bancorporation and gave the company a “buy” rating in a research report on Monday, October 21st. Wedbush restated an “outperform” rating on shares of Western Alliance Bancorporation in a research report on Tuesday, July 16th. Finally, SunTrust Banks decreased their price objective on shares of Western Alliance Bancorporation from $57.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $55.83.
In other Western Alliance Bancorporation news, Director Todd Marshall sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $49.99, for a total transaction of $999,800.00. Following the transaction, the director now directly owns 27,096 shares in the company, valued at $1,354,529.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 50,000 shares of company stock worth $2,523,400 over the last quarter. Company insiders own 7.72% of the company’s stock.
Shares of WAL stock traded down $0.10 during trading on Friday, hitting $52.57. The company had a trading volume of 678,279 shares, compared to its average volume of 820,324. Western Alliance Bancorporation has a 52 week low of $37.39 and a 52 week high of $53.60. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average is $47.25 and its two-hundred day moving average is $45.51. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 0.72 and a beta of 1.65.
Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. Western Alliance Bancorporation had a net margin of 39.08% and a return on equity of 17.65%. The business had revenue of $288.90 million for the quarter, compared to analysts’ expectations of $281.83 million. During the same period last year, the business earned $1.05 earnings per share. The business’s quarterly revenue was up 14.2% on a year-over-year basis. On average, research analysts predict that Western Alliance Bancorporation will post 4.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Thursday, November 14th. Western Alliance Bancorporation’s payout ratio is currently 24.15%.
Western Alliance Bancorporation Profile
Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.
Featured Story: Book Value Per Share – BVPS
Receive News & Ratings for Western Alliance Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Alliance Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.