Western Alliance Bancorporation (NYSE:WAL) is Generate Investment Management Ltd's 9th Largest Position

Generate Investment Management Ltd lessened its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 28.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 414,303 shares of the financial services provider's stock after selling 161,591 shares during the quarter. Western Alliance Bancorporation comprises about 2.4% of Generate Investment Management Ltd's holdings, making the stock its 9th largest holding. Generate Investment Management Ltd owned approximately 0.38% of Western Alliance Bancorporation worth $35,833,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WAL. Vanguard Group Inc. lifted its stake in shares of 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 acquiring an additional 395,101 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Western Alliance Bancorporation by 16.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,112,376 shares of the financial services provider's stock valued at $328,165,000 after buying an additional 717,242 shares during the last quarter. Dimensional Fund Advisors LP grew its position 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 buying an additional 636,577 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Western Alliance Bancorporation by 0.7% in 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 buying an additional 20,876 shares during the last quarter. Finally, Hood River Capital Management LLC raised its holdings in Western Alliance Bancorporation by 5.9% in the first quarter. Hood River Capital Management LLC now owns 1,641,660 shares of the financial services provider's stock valued at $105,378,000 after acquiring an additional 91,535 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Performance

WAL traded down $8.39 during trading hours on Friday, hitting $85.53. The company's stock had a trading volume of 4,721,123 shares, compared to its average volume of 1,313,068. The company has a 50-day simple moving average of $82.58 and a 200 day simple moving average of $70.58. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $9.42 billion, a PE ratio of 12.47, a PEG ratio of 1.35 and a beta of 1.44. Western Alliance Bancorporation has a fifty-two week low of $38.81 and a fifty-two week high of $94.28.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.75 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.04. The company had revenue of $771.80 million for the quarter, compared to analyst estimates of $737.97 million. Western Alliance Bancorporation had a return on equity of 13.98% and a net margin of 15.54%. The company's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $1.96 earnings per share. As a group, sell-side analysts expect that Western Alliance Bancorporation will post 7.41 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, August 16th. Western Alliance Bancorporation's dividend payout ratio is currently 21.57%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WAL shares. Jefferies Financial Group upped their target price on shares of Western Alliance Bancorporation from $70.00 to $77.00 and gave the company a "buy" rating in a research note on Wednesday, July 3rd. Barclays upped their price objective on Western Alliance Bancorporation from $86.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday, July 22nd. Stephens reiterated an "overweight" rating and issued a $102.00 price target on shares of Western Alliance Bancorporation in a report on Friday. Piper Sandler set a $102.00 price objective on Western Alliance Bancorporation in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a "hold" rating to a "buy" rating and boosted their target price for the company from $83.00 to $101.00 in a research note on Monday, October 7th. 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $92.27.

Insider Activity

In related news, insider Stephen Russell Curley sold 5,070 shares of the business's stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $76.43, for a total transaction of $387,500.10. Following the sale, the insider now owns 36,718 shares of the company's stock, valued at $2,806,356.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Stephen Russell Curley sold 5,070 shares of Western Alliance Bancorporation stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $76.43, for a total transaction of $387,500.10. Following the transaction, the insider now directly owns 36,718 shares of the company's stock, valued at $2,806,356.74. The trade was a 0.00 % 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. Also, insider Barbara Kennedy sold 11,083 shares of the company's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the sale, the insider now directly owns 7,977 shares of the company's stock, valued at $650,843.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,265 shares of company stock worth $1,700,391 over the last three months. Corporate insiders own 2.75% of the company's stock.

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.