MIdWestOne Financial Group Inc. Buys 10,240 Shares of Western Alliance Bancorporation $WAL

MIdWestOne Financial Group Inc. lifted its stake in Western Alliance Bancorporation (NYSE:WAL) by 28.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,799 shares of the financial services provider’s stock after buying an additional 10,240 shares during the period. MIdWestOne Financial Group Inc.’s holdings in Western Alliance Bancorporation were worth $3,934,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in WAL. Dimensional Fund Advisors LP lifted its stake in Western Alliance Bancorporation by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 3,674,518 shares of the financial services provider’s stock worth $318,655,000 after purchasing an additional 58,535 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in Western Alliance Bancorporation during the third quarter worth $13,339,000. M&T Bank Corp lifted its stake in Western Alliance Bancorporation by 7,920.9% during the fourth quarter. M&T Bank Corp now owns 315,624 shares of the financial services provider’s stock worth $26,535,000 after purchasing an additional 311,689 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Western Alliance Bancorporation by 3.5% during the third quarter. William Blair Investment Management LLC now owns 2,394,722 shares of the financial services provider’s stock worth $207,670,000 after purchasing an additional 81,386 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in Western Alliance Bancorporation by 35.8% during the third quarter. Bank of Montreal Can now owns 1,179,518 shares of the financial services provider’s stock worth $102,288,000 after purchasing an additional 310,826 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on WAL shares. JPMorgan Chase & Co. cut their target price on Western Alliance Bancorporation from $105.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, April 1st. UBS Group upped their target price on Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Piper Sandler cut their target price on Western Alliance Bancorporation from $94.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Barclays cut their target price on Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Finally, DA Davidson cut their target price on Western Alliance Bancorporation from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.93.

Insider Activity

In other news, CAO Ben Mucha sold 5,946 shares of the company’s 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 directly owned 3,485 shares in the company, valued at approximately $282,285. This represents a 63.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.68% of the company’s stock.

Western Alliance Bancorporation Stock Up 0.9%

Shares of NYSE:WAL opened at $82.34 on Friday. The company has a fifty day moving average of $78.23 and a 200-day moving average of $81.92. The company has a market capitalization of $8.99 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 0.62 and a beta of 1.34. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 0.86. Western Alliance Bancorporation has a 52-week low of $65.82 and a 52-week high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.74. The company had revenue of $968.40 million during the quarter, compared to the consensus estimate of $944.18 million. Western Alliance Bancorporation had a net margin of 17.03% and a return on equity of 13.58%. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.79 earnings per share. On average, equities analysts predict that Western Alliance Bancorporation will post 9.8 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

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

About Western Alliance Bancorporation

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.