Mutual of America Capital Management LLC Acquires Shares of 58,955 Western Alliance Bancorporation (NYSE:WAL)

Mutual of America Capital Management LLC acquired a new position in Western Alliance Bancorporation (NYSE:WAL - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 58,955 shares of the financial services provider's stock, valued at approximately $5,099,000. Mutual of America Capital Management LLC owned approximately 0.05% of Western Alliance Bancorporation at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in Western Alliance Bancorporation by 0.6% in the first quarter. Russell Investments Group Ltd. now owns 29,768 shares of the financial services provider's stock valued at $1,911,000 after purchasing an additional 164 shares in the last quarter. Blue Trust Inc. raised its position in shares of Western Alliance Bancorporation by 58.4% during the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock worth $44,000 after purchasing an additional 187 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Western Alliance Bancorporation by 26.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,165 shares of the financial services provider's stock worth $73,000 after purchasing an additional 244 shares in the last quarter. UMB Bank n.a. increased its stake in Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 249 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Western Alliance Bancorporation by 18.7% during the third quarter. Signaturefd LLC now owns 1,598 shares of the financial services provider's stock worth $138,000 after buying an additional 252 shares during the last quarter. Institutional investors own 79.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WAL. JPMorgan Chase & Co. decreased their target price on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. Stephens reiterated an "overweight" rating and set a $102.00 price target on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Wedbush lifted their price objective on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an "outperform" rating in a report on Tuesday, September 24th. Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the company an "outperform" rating in a research report on Friday, October 18th. Finally, Truist Financial reduced their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating for the company in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $92.73.

Western Alliance Bancorporation Stock Performance

Western Alliance Bancorporation stock traded up $0.35 during midday trading on Thursday, reaching $89.52. The stock had a trading volume of 13,496 shares, compared to its average volume of 1,299,496. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $9.85 billion, a PE ratio of 13.75, a P/E/G ratio of 1.40 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. The firm's 50-day moving average price is $86.31 and its 200 day moving average price is $75.18.

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

Western Alliance Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.38 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Western Alliance Bancorporation's previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 1.70%. Western Alliance Bancorporation's payout ratio is 23.46%.

Insider Activity at Western Alliance Bancorporation

In other news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation 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 completion of the sale, the director now owns 4,056 shares in the company, valued at approximately $335,634. This trade represents a 42.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $81.59, for a total value of $904,261.97. Following the sale, the insider now directly owns 7,977 shares in the company, valued at approximately $650,843.43. The trade was a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.75% of the stock is currently owned by corporate insiders.

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.