Harbor Capital Advisors Inc. Invests $2.62 Million in Western Alliance Bancorporation (NYSE:WAL)

Harbor Capital Advisors Inc. acquired a new stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,329 shares of the financial services provider's stock, valued at approximately $2,623,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new stake in Western Alliance Bancorporation in the first quarter valued at about $27,000. BNP Paribas Financial Markets grew its holdings in shares of Western Alliance Bancorporation by 1,649.6% during the 1st quarter. BNP Paribas Financial Markets now owns 58,191 shares of the financial services provider's stock valued at $3,735,000 after purchasing an additional 54,865 shares during the last quarter. Nordea Investment Management AB increased its position in Western Alliance Bancorporation by 6.5% during the 1st quarter. Nordea Investment Management AB now owns 104,472 shares of the financial services provider's stock worth $6,712,000 after purchasing an additional 6,389 shares in the last quarter. Quantbot Technologies LP lifted its stake in Western Alliance Bancorporation by 128.0% in the 1st quarter. Quantbot Technologies LP now owns 36,369 shares of the financial services provider's stock valued at $2,335,000 after purchasing an additional 20,421 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Western Alliance Bancorporation by 1,706.9% in the first quarter. SG Americas Securities LLC now owns 30,898 shares of the financial services provider's stock valued at $1,983,000 after buying an additional 29,188 shares in the last quarter. Institutional investors own 79.15% of the company's stock.

Analyst Ratings Changes

WAL has been the topic of a number of research reports. Truist Financial reduced their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating on the stock in a research report on Monday, October 21st. Wedbush lifted their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. decreased their price objective on Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating for the company in a report on Monday, October 21st. Wells Fargo & Company lifted their target price on Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 1st. Finally, Royal Bank of Canada set a $99.00 price objective on Western Alliance Bancorporation and gave the stock an "outperform" rating in a research report on Friday, October 18th. One investment 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $92.60.

Western Alliance Bancorporation Stock Up 2.7 %

Shares of Western Alliance Bancorporation stock traded up $2.22 during midday trading on Tuesday, hitting $84.63. The company had a trading volume of 702,604 shares, compared to its average volume of 1,307,414. Western Alliance Bancorporation has a 52-week low of $43.20 and a 52-week high of $94.28. The stock has a market capitalization of $9.32 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.31 and a beta of 1.44. The company has a 50 day moving average of $83.88 and a 200 day moving average of $72.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.38 per share. This is an increase from Western Alliance Bancorporation's previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.80%. Western Alliance Bancorporation's payout ratio is presently 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 dated 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 owns 4,056 shares of the company's stock, valued at approximately $335,634. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Barbara Kennedy sold 11,083 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $81.59, for a total value of $904,261.97. Following the transaction, the insider now directly owns 7,977 shares of the company's stock, valued at $650,843.43. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert P. Latta sold 2,996 shares of the business's stock in a transaction dated 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.