Corient Private Wealth LLC Acquires 22,431 Shares of Western Alliance Bancorporation $WAL

Corient Private Wealth LLC lifted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 134.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 39,056 shares of the financial services provider’s stock after buying an additional 22,431 shares during the quarter. Corient Private Wealth LLC’s holdings in Western Alliance Bancorporation were worth $3,283,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Clearstead Advisors LLC raised its stake in Western Alliance Bancorporation by 144.6% during the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 243 shares during the period. Community Bank N.A. purchased a new position in Western Alliance Bancorporation in the 3rd quarter worth approximately $37,000. Los Angeles Capital Management LLC bought a new position in Western Alliance Bancorporation in the 4th quarter worth approximately $38,000. Leonteq Securities AG bought a new position in Western Alliance Bancorporation in the 4th quarter worth approximately $44,000. Finally, V Square Quantitative Management LLC purchased a new stake in Western Alliance Bancorporation during the 4th quarter valued at approximately $45,000. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $82.00 on Friday. The company has a market cap of $8.95 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 0.62 and a beta of 1.34. Western Alliance Bancorporation has a 1 year low of $65.82 and a 1 year high of $97.23. The stock’s 50 day simple moving average is $79.54 and its two-hundred day simple moving average is $81.80. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.86 and a quick ratio of 0.81.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Tuesday, April 21st. The financial services provider reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.74. Western Alliance Bancorporation had a return on equity of 13.58% and a net margin of 17.03%.The firm had revenue of $968.40 million during the quarter, compared to the consensus estimate of $944.18 million. During the same period in the prior year, the company earned $1.79 EPS. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. As a group, equities analysts anticipate that Western Alliance Bancorporation will post 9.81 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.68 dividend on an annualized basis and a yield of 2.0%. Western Alliance Bancorporation’s dividend payout ratio is presently 19.56%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WAL shares. Wells Fargo & Company upgraded shares of Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $83.00 to $79.00 in a research report on Monday, March 9th. Piper Sandler dropped their target price on shares of Western Alliance Bancorporation from $94.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Weiss Ratings raised shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods lifted their price target on shares of Western Alliance Bancorporation from $93.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Finally, Citigroup boosted their price target on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and a consensus price target of $93.07.

Insider Buying and Selling

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $81.00, for a total transaction of $481,626.00. Following the completion of the transaction, the chief accounting officer owned 3,485 shares in the company, valued at $282,285. This trade represents a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.68% of the stock is owned by company insiders.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.