Tradewinds LLC. Takes Position in Western Alliance Bancorporation $WAL

Tradewinds LLC. bought a new position in shares of Western Alliance Bancorporation (NYSE:WAL) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,970 shares of the financial services provider’s stock, valued at approximately $518,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WAL. GAMMA Investing LLC boosted its position in shares of Western Alliance Bancorporation by 6.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,317 shares of the financial services provider’s stock worth $181,000 after acquiring an additional 136 shares in the last quarter. Silver Oak Securities Incorporated lifted its stake in Western Alliance Bancorporation by 1.0% during the third quarter. Silver Oak Securities Incorporated now owns 14,318 shares of the financial services provider’s stock worth $1,242,000 after purchasing an additional 138 shares during the last quarter. EJF Capital LLC boosted its holdings in Western Alliance Bancorporation by 2.5% in the second quarter. EJF Capital LLC now owns 6,223 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 149 shares in the last quarter. Salzhauer Michael increased its stake in Western Alliance Bancorporation by 0.3% in the third quarter. Salzhauer Michael now owns 44,815 shares of the financial services provider’s stock valued at $3,886,000 after purchasing an additional 152 shares during the last quarter. Finally, Ethic Inc. raised its holdings in Western Alliance Bancorporation by 2.4% during the third quarter. Ethic Inc. now owns 6,955 shares of the financial services provider’s stock worth $603,000 after purchasing an additional 161 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Western Alliance Bancorporation

In other news, CFO Dale Gibbons acquired 4,000 shares of Western Alliance Bancorporation stock in a transaction that occurred on Thursday, October 30th. The stock was purchased at an average price of $77.00 per share, for a total transaction of $308,000.00. Following the completion of the transaction, the chief financial officer directly owned 300,358 shares in the company, valued at approximately $23,127,566. This trade represents a 1.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

WAL has been the subject of several research analyst reports. UBS Group restated a “buy” rating and issued a $107.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, January 6th. 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. Wells Fargo & Company cut their target price on Western Alliance Bancorporation from $90.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, October 23rd. Wall Street Zen raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, National Bankshares set a $118.00 price target on Western Alliance Bancorporation in a research report on Wednesday, September 24th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $102.20.

Western Alliance Bancorporation Stock Down 1.5%

WAL opened at $88.48 on Monday. Western Alliance Bancorporation has a 52 week low of $57.05 and a 52 week high of $94.40. The business has a 50 day moving average price of $84.02 and a two-hundred day moving average price of $83.47. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The company has a market cap of $9.74 billion, a PE ratio of 10.94, a P/E/G ratio of 0.54 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $2.28 EPS for the quarter, topping the consensus estimate of $2.11 by $0.17. Western Alliance Bancorporation had a return on equity of 12.93% and a net margin of 17.14%.The business had revenue of $841.30 million during the quarter, compared to analysts’ expectations of $891.04 million. During the same quarter in the prior year, the business earned $1.80 earnings per share. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, research analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, November 13th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 20.77%.

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.