Thrivent Financial for Lutherans Decreases Stake in Western Alliance Bancorporation (NYSE:WAL)

Thrivent Financial for Lutherans lessened its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 13.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,341,906 shares of the financial services provider's stock after selling 353,270 shares during the quarter. Thrivent Financial for Lutherans owned approximately 2.13% of Western Alliance Bancorporation worth $202,552,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in Western Alliance Bancorporation in the 1st quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new stake in Western Alliance Bancorporation during the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC acquired a new stake in Western Alliance Bancorporation during the 3rd quarter valued at approximately $33,000. ORG Partners LLC acquired a new stake in Western Alliance Bancorporation during the 2nd quarter valued at approximately $36,000. Finally, UMB Bank n.a. increased its position in Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 249 shares during the period. Institutional investors own 79.15% of the company's stock.

Insider Transactions at Western Alliance Bancorporation

In related news, insider Barbara Kennedy sold 11,083 shares of Western Alliance Bancorporation stock in a transaction dated Monday, August 26th. The stock was 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. This trade represents a 58.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $82.75, for a total value of $247,919.00. Following the completion of the sale, the director now directly owns 4,056 shares of the company's stock, valued at approximately $335,634. This trade represents a 42.48 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.75% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on WAL shares. Bank of America increased their target price on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. Wedbush raised their price objective 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. Wells Fargo & Company raised their price objective on shares of Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 1st. Truist Financial reduced their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating for the company in a research report on Monday, October 21st. Finally, Piper Sandler reduced their price objective on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $92.73.

Western Alliance Bancorporation Stock Down 1.2 %

NYSE:WAL traded down $1.10 during trading hours on Friday, hitting $90.38. 1,000,731 shares of the company traded hands, compared to its average volume of 1,501,575. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The firm's 50-day simple moving average is $85.78 and its 200-day simple moving average is $74.68. Western Alliance Bancorporation has a one year low of $47.54 and a one year high of $96.45. The company has a market cap of $9.95 billion, a PE ratio of 13.95, a PEG ratio of 1.42 and a beta of 1.44.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The company had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Equities analysts predict that Western Alliance Bancorporation will post 7.13 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.68%. This is a boost from Western Alliance Bancorporation's previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, November 15th. Western Alliance Bancorporation's payout ratio is presently 22.84%.

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.