Western Alliance Bancorporation $WAL Stake Trimmed by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC lessened its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 38.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 32,183 shares of the financial services provider’s stock after selling 19,740 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Western Alliance Bancorporation were worth $2,791,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Forum Financial Management LP increased its position in shares of Western Alliance Bancorporation by 27.7% in the third quarter. Forum Financial Management LP now owns 4,619 shares of the financial services provider’s stock worth $401,000 after acquiring an additional 1,002 shares in the last quarter. SG Americas Securities LLC boosted its stake in Western Alliance Bancorporation by 568.0% in the 3rd quarter. SG Americas Securities LLC now owns 17,355 shares of the financial services provider’s stock worth $1,505,000 after purchasing an additional 14,757 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in Western Alliance Bancorporation by 11.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,194,630 shares of the financial services provider’s stock worth $190,318,000 after purchasing an additional 223,425 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in Western Alliance Bancorporation during the 3rd quarter valued at $47,000. Finally, Penobscot Investment Management Company Inc. acquired a new stake in Western Alliance Bancorporation during the 3rd quarter valued at $217,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Dale Gibbons acquired 4,000 shares of the stock in a transaction dated Thursday, October 30th. The shares were acquired at an average price of $77.00 per share, with a total value of $308,000.00. Following the acquisition, the chief financial officer owned 300,358 shares in the company, valued at approximately $23,127,566. The trade was a 1.35% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.68% of the company’s stock.

Western Alliance Bancorporation Trading Up 0.5%

Shares of NYSE WAL opened at $90.14 on Friday. The business has a 50 day simple moving average of $83.02 and a 200 day simple moving average of $83.12. Western Alliance Bancorporation has a 52 week low of $57.05 and a 52 week high of $94.40. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.55 and a beta of 1.34. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 0.85.

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

Western Alliance Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were given a $0.42 dividend. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, November 13th. Western Alliance Bancorporation’s payout ratio is presently 20.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Wells Fargo & Company lowered their target price on Western Alliance Bancorporation from $90.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, October 23rd. Industrial Alliance Securities set a $108.00 price target on shares of Western Alliance Bancorporation in a research report on Wednesday. Keefe, Bruyette & Woods lowered their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. Finally, Barclays upped their price objective on shares of Western Alliance Bancorporation from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.20.

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.