223,329 Shares in Western Alliance Bancorporation $WAL Acquired by Cercano Management LLC

Cercano Management LLC acquired a new stake in Western Alliance Bancorporation (NYSE:WAL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 223,329 shares of the financial services provider’s stock, valued at approximately $17,415,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in shares of Western Alliance Bancorporation by 5.9% during the 1st quarter. Invesco Ltd. now owns 6,076,021 shares of the financial services provider’s stock worth $466,821,000 after buying an additional 339,758 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Western Alliance Bancorporation by 0.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,604,755 shares of the financial services provider’s stock valued at $276,954,000 after purchasing an additional 26,995 shares during the last quarter. William Blair Investment Management LLC raised its position in Western Alliance Bancorporation by 0.9% during the 2nd quarter. William Blair Investment Management LLC now owns 2,313,336 shares of the financial services provider’s stock worth $180,394,000 after buying an additional 20,704 shares during the last quarter. Geode Capital Management LLC raised its holdings in Western Alliance Bancorporation by 5.4% during the second quarter. Geode Capital Management LLC now owns 2,035,515 shares of the financial services provider’s stock worth $158,755,000 after purchasing an additional 104,182 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Western Alliance Bancorporation by 3.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,971,205 shares of the financial services provider’s stock valued at $153,715,000 after buying an additional 62,202 shares during the period. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Insider Activity at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CFO Dale Gibbons acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The stock was acquired at an average cost of $77.00 per share, with a total value of $308,000.00. Following the acquisition, the chief financial officer directly owned 300,358 shares of the company’s stock, valued at $23,127,566. This represents a 1.35% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD Cowen initiated coverage on shares of Western Alliance Bancorporation in a research report on Thursday, September 25th. They set a “buy” rating and a $118.00 target price on the stock. Piper Sandler raised their price target on shares of Western Alliance Bancorporation from $94.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. UBS Group lowered their price objective on Western Alliance Bancorporation from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. DA Davidson increased their target price on Western Alliance Bancorporation from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Finally, Cowen assumed coverage on shares of Western Alliance Bancorporation in a research note on Wednesday, September 24th. They set a “buy” rating for the company. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.53.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $78.17 on Friday. The firm has a market cap of $8.60 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 0.52 and a beta of 1.45. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 52-week low of $57.05 and a 52-week high of $98.10. The business’s 50 day moving average is $82.48 and its two-hundred day moving average is $80.23.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Wednesday, February 14th. The financial services provider reported $1.91 EPS for the quarter. Western Alliance Bancorporation had a return on equity of 12.93% and a net margin of 17.14%.The company had revenue of $718.00 million during the quarter. Analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Thursday, November 13th will be given a $0.42 dividend. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, November 13th. This represents a $1.68 annualized dividend and a yield of 2.1%. Western Alliance Bancorporation’s payout ratio is currently 20.77%.

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.