Holocene Advisors LP Has $38.40 Million Position in Western Alliance Bancorporation (NYSE:WAL)

Holocene Advisors LP raised its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 64.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 443,980 shares of the financial services provider's stock after buying an additional 173,894 shares during the period. Holocene Advisors LP owned about 0.40% of Western Alliance Bancorporation worth $38,400,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. First Hawaiian Bank acquired a new position in Western Alliance Bancorporation in the 2nd quarter valued at about $474,000. Wedmont Private Capital raised its stake in shares of Western Alliance Bancorporation by 9.5% in the 2nd quarter. Wedmont Private Capital now owns 4,826 shares of the financial services provider's stock valued at $325,000 after acquiring an additional 420 shares during the period. M&G Plc raised its stake in shares of Western Alliance Bancorporation by 12.4% in the 2nd quarter. M&G Plc now owns 133,670 shares of the financial services provider's stock valued at $8,421,000 after acquiring an additional 14,734 shares during the period. ORG Partners LLC purchased a new stake in shares of Western Alliance Bancorporation in the 2nd quarter valued at approximately $36,000. Finally, Raymond James & Associates increased its stake in Western Alliance Bancorporation by 1.6% during the 2nd quarter. Raymond James & Associates now owns 21,429 shares of the financial services provider's stock worth $1,346,000 after buying an additional 340 shares during the period. Institutional investors and hedge funds own 79.15% of the company's stock.

Analyst Ratings Changes

WAL has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating for the company in a report on Monday, October 21st. Royal Bank of Canada set a $99.00 price target on Western Alliance Bancorporation and gave the company an "outperform" rating in a research note on Friday, October 18th. StockNews.com downgraded Western Alliance Bancorporation from a "hold" rating to a "sell" rating in a research report on Tuesday, August 13th. Barclays upped their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Finally, Piper Sandler dropped their target price on Western Alliance Bancorporation from $102.00 to $101.00 and set an "overweight" rating for the company in a research note on Monday, October 21st. 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. Based on data from MarketBeat, Western Alliance Bancorporation has an average rating of "Moderate Buy" and an average target price of $93.40.

Western Alliance Bancorporation Price Performance

WAL traded down $0.45 during trading on Tuesday, reaching $92.74. The stock had a trading volume of 401,551 shares, compared to its average volume of 1,284,491. The firm has a market capitalization of $10.21 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 1.47 and a beta of 1.45. 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 has a 1-year low of $53.22 and a 1-year high of $98.10. The stock has a 50 day moving average of $87.82 and a two-hundred day moving average of $76.96.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10). The company 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%. As a group, equities analysts anticipate that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.38 per share. This is an increase from Western Alliance Bancorporation's previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 1.64%. The ex-dividend date was Friday, November 15th. Western Alliance Bancorporation's payout ratio is 23.46%.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the company's 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 directly owns 4,056 shares in the company, valued at $335,634. This represents a 42.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.75% of the company's stock.

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.