Independent Financial Group LLC Buys New Position in Western Alliance Bancorporation $WAL

Independent Financial Group LLC bought a new stake in Western Alliance Bancorporation (NYSE:WAL) during the 1st quarter, Holdings Channel.com reports. The firm bought 13,045 shares of the financial services provider’s stock, valued at approximately $924,000.

Other large investors have also recently bought and sold shares of the company. D.A. Davidson & CO. raised its holdings in shares of Western Alliance Bancorporation by 8.1% in the first quarter. D.A. Davidson & CO. now owns 6,667 shares of the financial services provider’s stock valued at $472,000 after purchasing an additional 500 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Western Alliance Bancorporation by 14.8% during the first quarter. Illinois Municipal Retirement Fund now owns 6,953 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 899 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in Western Alliance Bancorporation by 9.8% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 38,200 shares of the financial services provider’s stock valued at $2,705,000 after purchasing an additional 3,400 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Western Alliance Bancorporation in the 1st quarter valued at $3,450,000. Finally, State of Michigan Retirement System increased its stake in Western Alliance Bancorporation by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 24,700 shares of the financial services provider’s stock valued at $1,750,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Down 1.5%

Western Alliance Bancorporation stock opened at $81.03 on Tuesday. The company’s 50-day moving average price is $80.03 and its two-hundred day moving average price is $81.25. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 0.88. The stock has a market cap of $8.85 billion, a P/E ratio of 9.43, a P/E/G ratio of 0.75 and a beta of 1.34. Western Alliance Bancorporation has a twelve month low of $65.82 and a twelve month high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share (EPS) for the quarter, topping 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 company had revenue of $968.40 million during the quarter, compared to analysts’ expectations of $944.18 million. During the same quarter in the previous year, the company posted $1.79 earnings per share. The business’s revenue was up 31.0% on a year-over-year basis. As a group, analysts expect that Western Alliance Bancorporation will post 9.5 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, May 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 19.56%.

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $81.00, for a total value of $481,626.00. Following the transaction, the chief accounting officer directly owned 3,485 shares of the company’s stock, valued at $282,285. This represents a 63.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.76% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WAL shares. Weiss Ratings upgraded 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 target price on Western Alliance Bancorporation from $93.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. upped their target price on Western Alliance Bancorporation from $86.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. UBS Group increased their price target on Western Alliance Bancorporation from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Finally, Citigroup boosted their price target on Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

Western Alliance Bancorporation Company 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.