Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Emerald Advisers LLC

Emerald Advisers LLC lowered its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 83.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,574 shares of the financial services provider's stock after selling 17,993 shares during the period. Emerald Advisers LLC's holdings in Western Alliance Bancorporation were worth $309,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cincinnati Insurance Co. purchased a new stake in Western Alliance Bancorporation during the first quarter worth $46,538,000. LHM Inc. boosted its position in Western Alliance Bancorporation by 2,141.1% during the second quarter. LHM Inc. now owns 757,809 shares of the financial services provider's stock valued at $47,606,000 after purchasing an additional 723,995 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in 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 valued at $328,165,000 after purchasing an additional 717,242 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Western Alliance Bancorporation by 20.6% in 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 purchasing an additional 636,577 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Western Alliance Bancorporation by 3.9% during the first quarter. Vanguard Group Inc. now owns 10,440,410 shares of the financial services provider's stock valued at $670,170,000 after buying an additional 395,101 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company's stock.

Western Alliance Bancorporation Stock Performance

Shares of WAL stock traded down $0.90 on Monday, hitting $82.41. The company had a trading volume of 828,651 shares, compared to its average volume of 1,310,252. Western Alliance Bancorporation has a twelve month low of $43.20 and a twelve month high of $94.28. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.07. The firm has a market cap of $9.07 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 1.30 and a beta of 1.44. The company has a 50-day moving average price of $83.77 and a 200-day moving average price of $72.41.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.84%. The ex-dividend date is Friday, November 15th. This is a positive change from Western Alliance Bancorporation's previous quarterly dividend of $0.37. Western Alliance Bancorporation's dividend payout ratio is currently 22.84%.

Insider Transactions at Western Alliance Bancorporation

In related news, 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 transaction of $247,919.00. Following the sale, 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Barbara Kennedy sold 11,083 shares of the business's stock in a transaction 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 completion of the sale, the insider now owns 7,977 shares of the company's stock, valued at approximately $650,843.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $247,919.00. Following the transaction, the director now directly owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.75% of the company's stock.

Analysts Set New Price Targets

WAL has been the topic of a number of analyst reports. Bank of America lifted their price objective on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the stock a "buy" rating in a research report on Monday, July 22nd. Wells Fargo & Company increased their price objective on Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an "equal weight" rating in a report on Tuesday, October 1st. Stephens restated an "overweight" rating and set a $102.00 target price on shares of Western Alliance Bancorporation in a research note on Friday, October 18th. Barclays decreased their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, October 22nd. Finally, Wedbush boosted their price target on Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Western Alliance Bancorporation has a consensus rating of "Moderate Buy" and a consensus target price of $92.60.

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.