Western Alliance Bancorporation (NYSE:WAL) Director Acquires $100,650.00 in Stock

Western Alliance Bancorporation (NYSE:WAL) Director Bryan K. Segedi acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 4th. The stock was acquired at an average cost of $100.65 per share, for a total transaction of $100,650.00. Following the acquisition, the director now owns 8,327 shares of the company’s stock, valued at approximately $838,112.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

WAL stock opened at $98.02 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.88 and a quick ratio of 0.88. Western Alliance Bancorporation has a twelve month low of $30.34 and a twelve month high of $109.84. The company has a market capitalization of $10.14 billion, a PE ratio of 16.02 and a beta of 1.70. The company’s fifty day moving average price is $100.53.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Wednesday, April 14th. The financial services provider reported $1.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.43. Western Alliance Bancorporation had a net margin of 44.76% and a return on equity of 18.29%. The business had revenue of $337.00 million for the quarter, compared to analysts’ expectations of $337.88 million. During the same quarter in the previous year, the business posted $0.83 earnings per share. Equities research analysts forecast that Western Alliance Bancorporation will post 8.08 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 28th. Stockholders of record on Friday, May 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Thursday, May 13th. Western Alliance Bancorporation’s dividend payout ratio is currently 19.84%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Western Alliance Bancorporation by 55.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,474,625 shares of the financial services provider’s stock valued at $1,083,664,000 after purchasing an additional 4,074,096 shares during the period. BlackRock Inc. lifted its stake in Western Alliance Bancorporation by 3.7% in the first quarter. BlackRock Inc. now owns 4,471,341 shares of the financial services provider’s stock worth $422,272,000 after acquiring an additional 158,102 shares during the period. Capital International Investors lifted its stake in Western Alliance Bancorporation by 96.7% in the first quarter. Capital International Investors now owns 4,143,752 shares of the financial services provider’s stock worth $391,336,000 after acquiring an additional 2,037,649 shares during the period. Lord Abbett & CO. LLC lifted its stake in Western Alliance Bancorporation by 212.3% in the first quarter. Lord Abbett & CO. LLC now owns 3,383,742 shares of the financial services provider’s stock worth $319,562,000 after acquiring an additional 2,300,102 shares during the period. Finally, William Blair Investment Management LLC lifted its stake in Western Alliance Bancorporation by 217.9% in the fourth quarter. William Blair Investment Management LLC now owns 2,512,849 shares of the financial services provider’s stock worth $150,645,000 after acquiring an additional 1,722,432 shares during the period. 87.27% of the stock is owned by hedge funds and other institutional investors.

WAL has been the topic of several analyst reports. Truist Financial lifted their price target on shares of Western Alliance Bancorporation from $85.00 to $117.00 in a report on Tuesday, April 20th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on shares of Western Alliance Bancorporation from $72.00 to $99.00 and gave the company a “neutral” rating in a report on Wednesday, April 14th. Truist Securities boosted their target price on shares of Western Alliance Bancorporation from $85.00 to $117.00 and gave the stock a “buy” rating in a report on Tuesday, April 20th. Citigroup boosted their target price on shares of Western Alliance Bancorporation from $72.00 to $99.00 in a report on Wednesday, April 14th. Finally, Zacks Investment Research raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a report on Friday, April 23rd. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $95.77.

About Western Alliance Bancorporation

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 in two segments, Commercial and Consumer Related. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; and treasury management and residential mortgage products and services.

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