BNP Paribas Financial Markets Purchases 31,214 Shares of Western Alliance Bancorporation (NYSE:WAL)

BNP Paribas Financial Markets raised its holdings in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 1,091.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 34,073 shares of the financial services provider's stock after acquiring an additional 31,214 shares during the period. BNP Paribas Financial Markets' holdings in Western Alliance Bancorporation were worth $2,947,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Western Alliance Bancorporation during the third quarter valued at approximately $31,000. ORG Wealth Partners LLC acquired a new position in shares of Western Alliance Bancorporation in the 3rd quarter valued at $33,000. ORG Partners LLC bought a new stake in shares of Western Alliance Bancorporation in the 2nd quarter valued at $36,000. UMB Bank n.a. raised 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 worth $37,000 after buying an additional 249 shares during the period. Finally, Blue Trust Inc. lifted its holdings in 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 acquiring an additional 187 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Up 1.9 %

Shares of NYSE:WAL traded up $1.77 during midday trading on Friday, hitting $93.73. The stock had a trading volume of 474,082 shares, compared to its average volume of 1,275,172. The company has a market cap of $10.32 billion, a P/E ratio of 14.46, a PEG ratio of 1.45 and a beta of 1.45. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The business's 50-day simple moving average is $88.44 and its 200-day simple moving average is $77.57. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $833.10 million during the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. On average, sell-side analysts forecast that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.62%. This is a boost from Western Alliance Bancorporation's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, November 15th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 23.46%.

Analyst Ratings Changes

Several brokerages have issued reports on WAL. Piper Sandler lowered their price target on Western Alliance Bancorporation from $102.00 to $101.00 and set an "overweight" rating for the company in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised Western Alliance Bancorporation from a "hold" rating to a "buy" rating and increased their target price for the stock from $83.00 to $101.00 in a research note on Monday, October 7th. JPMorgan Chase & Co. cut their price target on shares of 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. Wells Fargo & Company increased their price objective on shares of Western Alliance Bancorporation from $92.00 to $102.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Finally, Royal Bank of Canada set a $99.00 price objective on shares of Western Alliance Bancorporation and gave the company an "outperform" rating in a research report on Friday, October 18th. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $93.40.

Insider Transactions at Western Alliance Bancorporation

In related news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction dated Monday, September 9th. The shares were 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 of the company's stock, valued at approximately $335,634. The trade was a 42.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.