140 Summer Partners LP Reduces Holdings in Western Alliance Bancorporation (NYSE:WAL)

140 Summer Partners LP trimmed its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 20.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 918,556 shares of the financial services provider's stock after selling 230,700 shares during the quarter. Western Alliance Bancorporation comprises 8.6% of 140 Summer Partners LP's holdings, making the stock its 3rd biggest position. 140 Summer Partners LP owned about 0.83% of Western Alliance Bancorporation worth $79,446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. FMR LLC raised its holdings in Western Alliance Bancorporation by 93.3% during the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider's stock worth $241,568,000 after purchasing an additional 1,347,921 shares in the last quarter. LHM Inc. grew its position in Western Alliance Bancorporation by 2,141.1% in the second quarter. LHM Inc. now owns 757,809 shares of the financial services provider's stock worth $47,606,000 after buying an additional 723,995 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of 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 valued at $233,832,000 after buying an additional 636,577 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Western Alliance Bancorporation by 6,342.7% during the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider's stock valued at $44,522,000 after acquiring an additional 506,778 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Western Alliance Bancorporation in the 3rd quarter worth $38,386,000. 79.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robert P. Latta sold 2,996 shares of the business's stock in a transaction dated Monday, September 9th. The stock was 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 of the company's stock, valued at approximately $335,634. The trade was a 42.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.75% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on WAL. Truist Financial reduced their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set a "buy" rating for the company in a report on Monday, October 21st. Royal Bank of Canada set a $99.00 target price on shares of Western Alliance Bancorporation and gave the stock an "outperform" rating in a research report on Friday, October 18th. StockNews.com downgraded shares of Western Alliance Bancorporation from a "hold" rating to a "sell" rating in a research report on Tuesday, August 13th. Barclays boosted their target price on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Finally, Piper Sandler decreased their target price on 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 research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $92.73.

Western Alliance Bancorporation Stock Down 0.6 %

NYSE WAL traded down $0.53 during trading on Thursday, reaching $93.50. The company's stock had a trading volume of 480,842 shares, compared to its average volume of 1,089,673. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $10.29 billion, a PE ratio of 14.43, a PEG ratio of 1.48 and a beta of 1.44. Western Alliance Bancorporation has a 1-year low of $47.60 and a 1-year high of $98.10. The business has a 50-day moving average price of $87.47 and a 200-day moving average price of $76.26.

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 (EPS) 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 business had revenue of $833.10 million during the quarter, compared to the consensus estimate of $811.40 million. On average, research analysts forecast that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.63%. The ex-dividend date is Friday, November 15th. This is an increase from Western Alliance Bancorporation's previous quarterly dividend of $0.37. Western Alliance Bancorporation's dividend payout ratio (DPR) is 23.46%.

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.