Inspire Advisors LLC Grows Position in Western Alliance Bancorporation $WAL

Inspire Advisors LLC increased its position in Western Alliance Bancorporation (NYSE:WAL) by 25.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,404 shares of the financial services provider’s stock after buying an additional 2,333 shares during the quarter. Inspire Advisors LLC’s holdings in Western Alliance Bancorporation were worth $889,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cercano Management LLC bought a new stake in Western Alliance Bancorporation in the 2nd quarter worth $17,415,000. Cetera Investment Advisers boosted its holdings in shares of Western Alliance Bancorporation by 11.3% during the second quarter. Cetera Investment Advisers now owns 7,017 shares of the financial services provider’s stock worth $547,000 after purchasing an additional 713 shares during the period. Creative Planning grew its stake in shares of Western Alliance Bancorporation by 20.0% in the second quarter. Creative Planning now owns 8,730 shares of the financial services provider’s stock worth $681,000 after purchasing an additional 1,455 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in Western Alliance Bancorporation during the 2nd quarter valued at about $201,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Western Alliance Bancorporation by 7.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,006 shares of the financial services provider’s stock valued at $2,184,000 after purchasing an additional 1,934 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Dale Gibbons acquired 4,000 shares of the stock in a transaction on Thursday, October 30th. The stock was acquired at an average price of $77.00 per share, for a total transaction of $308,000.00. Following the completion of the purchase, the chief financial officer owned 300,358 shares of the company’s stock, valued at $23,127,566. This represents a 1.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.68% of the stock is currently owned by company insiders.

Western Alliance Bancorporation Stock Up 0.2%

NYSE:WAL opened at $73.98 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.79. The firm’s 50-day moving average price is $81.88 and its 200-day moving average price is $80.33. The company has a market capitalization of $8.14 billion, a PE ratio of 9.14, a P/E/G ratio of 0.52 and a beta of 1.45. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $1.91 EPS for the quarter. Western Alliance Bancorporation had a net margin of 17.14% and a return on equity of 12.93%. The business had revenue of $718.00 million for the quarter. On average, equities analysts predict that Western Alliance Bancorporation will post 9.05 EPS 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 28th. Investors of record on Thursday, November 13th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, November 13th. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 20.77%.

Analyst Upgrades and Downgrades

WAL has been the topic of several research analyst reports. Wall Street Zen raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. UBS Group reduced their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Citigroup reaffirmed a “neutral” rating on shares of Western Alliance Bancorporation in a research report on Tuesday, August 26th. National Bankshares set a $118.00 target price on shares of Western Alliance Bancorporation in a research note on Wednesday, September 24th. Finally, Truist Financial increased their price target on shares of Western Alliance Bancorporation from $92.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and an average price target of $100.53.

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.