nVerses Capital LLC Makes New Investment in Western Alliance Bancorporation (NYSE:WAL)

nVerses Capital LLC bought a new position in Western Alliance Bancorporation (NYSE:WAL - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,200 shares of the financial services provider's stock, valued at approximately $623,000.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Western Alliance Bancorporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider's stock worth $670,170,000 after purchasing an additional 395,101 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Western Alliance Bancorporation by 16.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider's stock worth $328,165,000 after acquiring an additional 717,242 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Western Alliance Bancorporation by 20.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider's stock worth $233,832,000 after acquiring an additional 636,577 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Western Alliance Bancorporation by 0.7% during the second quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider's stock worth $176,764,000 after acquiring an additional 20,876 shares during the last quarter. Finally, Hood River Capital Management LLC grew its stake in shares of Western Alliance Bancorporation by 5.9% during the first quarter. Hood River Capital Management LLC now owns 1,641,660 shares of the financial services provider's stock worth $105,378,000 after acquiring an additional 91,535 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

Insider Transactions at Western Alliance Bancorporation

In other news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the company's stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $75.95, for a total transaction of $160,710.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,520 shares of the company's stock, valued at $267,344. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CAO J. Kelly Jr. Ardrey sold 2,116 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $75.95, for a total value of $160,710.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,520 shares of the company's stock, valued at approximately $267,344. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert P. Latta sold 2,996 shares of the 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 transaction, the director now directly owns 4,056 shares of the company's stock, valued at approximately $335,634. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,265 shares of company stock valued at $1,700,391 in the last three months. 2.75% of the stock is currently owned by company insiders.

Western Alliance Bancorporation Stock Performance

Western Alliance Bancorporation stock traded down $8.39 during mid-day trading on Friday, hitting $85.53. The company had a trading volume of 4,720,669 shares, compared to its average volume of 1,313,068. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Western Alliance Bancorporation has a 12-month low of $38.81 and a 12-month high of $94.28. The company's fifty day moving average is $82.36 and its 200-day moving average is $70.35. The company has a market capitalization of $9.42 billion, a price-to-earnings ratio of 13.03, a P/E/G ratio of 1.35 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.04. The business had revenue of $771.80 million during the quarter, compared to the consensus estimate of $737.97 million. Western Alliance Bancorporation had a return on equity of 13.98% and a net margin of 15.54%. The business's quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.96 EPS. Equities research analysts predict that Western Alliance Bancorporation will post 7.41 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Friday, August 16th. Western Alliance Bancorporation's payout ratio is 22.26%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a "hold" rating to a "buy" rating and boosted their price target for the stock from $83.00 to $101.00 in a research note on Monday, October 7th. Barclays upped their target price on Western Alliance Bancorporation from $86.00 to $92.00 and gave the company an "overweight" rating in a research report on Monday, July 22nd. Wells Fargo & Company upped their target price on Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. upped their target price on Western Alliance Bancorporation from $100.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. Finally, Piper Sandler set a $102.00 target price on Western Alliance Bancorporation in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.27.

Western Alliance Bancorporation 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.