Western Alliance Bancorporation (NYSE:WAL) Shares Bought by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. increased its position in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 10.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,802,505 shares of the financial services provider's stock after acquiring an additional 169,244 shares during the period. Western Alliance Bancorporation comprises about 1.4% of Vaughan Nelson Investment Management L.P.'s investment portfolio, making the stock its 19th biggest holding. Vaughan Nelson Investment Management L.P. owned 1.64% of Western Alliance Bancorporation worth $155,899,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth $31,000. ORG Wealth Partners LLC purchased a new stake in Western Alliance Bancorporation in the third quarter worth about $33,000. Allspring Global Investments Holdings LLC bought a new position in shares of Western Alliance Bancorporation in the first quarter worth about $27,000. UMB Bank n.a. lifted its position in shares of 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 buying an additional 249 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Western Alliance Bancorporation by 58.4% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 187 shares during the period. Hedge funds and other institutional investors own 79.15% of the company's stock.

Insider Transactions at Western Alliance Bancorporation

In related news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction that occurred 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 of the company's stock, valued at $335,634. This trade represents a 42.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Barbara Kennedy sold 11,083 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the transaction, the insider now directly owns 7,977 shares of the company's stock, valued at $650,843.43. This trade represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WAL. Barclays lifted their price target on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an "overweight" rating in a report on Friday, November 8th. JPMorgan Chase & Co. lowered their target price on shares of Western Alliance Bancorporation from $107.00 to $105.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised Western Alliance Bancorporation from a "hold" rating to a "buy" rating and raised their price target for the company from $83.00 to $101.00 in a report on Monday, October 7th. Truist Financial lowered their price target on Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating on the stock in a report on Monday, October 21st. Finally, Bank of America increased their price objective on shares of Western Alliance Bancorporation from $82.00 to $98.00 and gave the company a "buy" rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given 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 $92.73.

Western Alliance Bancorporation Trading Down 1.2 %

WAL stock traded down $1.10 during mid-day trading on Friday, reaching $90.38. 1,000,731 shares of the stock traded hands, compared to its average volume of 1,501,575. The business has a 50-day moving average price of $85.78 and a two-hundred day moving average price of $74.57. The stock has a market capitalization of $9.95 billion, a PE ratio of 13.95, a PEG ratio of 1.42 and a beta of 1.44. 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 has a one year low of $47.54 and a one year high of $96.45.

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

Western Alliance Bancorporation Increases Dividend

The business also recently announced 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 an increase from Western Alliance Bancorporation's previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Friday, November 15th. Western Alliance Bancorporation's dividend payout ratio is currently 22.84%.

About Western Alliance Bancorporation

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.