Royce & Associates LP Sells 112,702 Shares of Western Alliance Bancorporation (NYSE:WAL)

Royce & Associates LP lowered its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 30.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 258,776 shares of the financial services provider's stock after selling 112,702 shares during the quarter. Royce & Associates LP owned approximately 0.24% of Western Alliance Bancorporation worth $22,382,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WAL. Allspring Global Investments Holdings LLC acquired a new stake in Western Alliance Bancorporation in the first quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at approximately $33,000. ORG Partners LLC bought a new position in shares of Western Alliance Bancorporation during the second quarter valued at $36,000. Finally, UMB Bank n.a. lifted its holdings in shares of Western Alliance Bancorporation by 136.8% during the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider's stock worth $37,000 after purchasing an additional 249 shares during the period. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Down 1.2 %

Shares of WAL traded down $1.10 on Friday, reaching $90.38. The company's stock had a trading volume of 1,000,731 shares, compared to its average volume of 1,501,575. The stock has a market capitalization of $9.95 billion, a PE ratio of 13.95, a PEG ratio of 1.45 and a beta of 1.44. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a twelve month low of $47.54 and a twelve month high of $96.45. The firm has a fifty day moving average of $85.78 and a 200-day moving average of $74.45.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. Equities analysts predict that Western Alliance Bancorporation will post 7.13 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.38 dividend. This is a positive change from Western Alliance Bancorporation's previous quarterly dividend of $0.37. The ex-dividend date is Friday, November 15th. This represents a $1.52 annualized dividend and a yield of 1.68%. Western Alliance Bancorporation's dividend payout ratio (DPR) is 22.84%.

Analyst Ratings Changes

Several brokerages recently issued reports on WAL. Barclays raised their target price on Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. 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. Stephens reiterated an "overweight" rating and issued a $102.00 target price on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Wells Fargo & Company raised their price target on shares of 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, Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a "hold" rating to a "buy" rating and upped their price objective for the company from $83.00 to $101.00 in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $92.73.

Insiders Place Their Bets

In related news, insider Barbara Kennedy sold 11,083 shares of the firm'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 owns 7,977 shares in the company, valued at approximately $650,843.43. This trade represents a 58.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $247,919.00. Following the completion of the transaction, the director now owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 42.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.