Sei Investments Co. Raises Stake in Western Alliance Bancorporation $WAL

Sei Investments Co. lifted its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 42.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 88,282 shares of the financial services provider’s stock after buying an additional 26,161 shares during the period. Sei Investments Co. owned 0.08% of Western Alliance Bancorporation worth $6,255,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Clearstead Advisors LLC grew its stake in Western Alliance Bancorporation by 144.6% in the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 243 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth $38,000. Assetmark Inc. grew its position in shares of Western Alliance Bancorporation by 86.0% in the first quarter. Assetmark Inc. now owns 560 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 259 shares during the period. Leonteq Securities AG purchased a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at $44,000. Finally, V Square Quantitative Management LLC acquired a new position in Western Alliance Bancorporation in the fourth quarter valued at $45,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

Western Alliance Bancorporation stock opened at $82.86 on Tuesday. The stock’s 50-day moving average is $81.08 and its 200-day moving average is $80.89. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 9.33, a price-to-earnings-growth ratio of 0.78 and a beta of 1.34. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.80. Western Alliance Bancorporation has a 12 month low of $65.82 and a 12 month high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.36 earnings per share for the quarter, meeting the consensus estimate of $2.36. The business had revenue of $995.70 million for the quarter, compared to analyst estimates of $980.53 million. Western Alliance Bancorporation had a return on equity of 13.40% and a net margin of 17.20%.The company’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.07 EPS. Equities analysts anticipate that Western Alliance Bancorporation will post 9.16 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, August 13th. Western Alliance Bancorporation’s payout ratio is 18.92%.

Insider Transactions at Western Alliance Bancorporation

In other news, CAO Ben Mucha sold 5,946 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $81.00, for a total value of $481,626.00. Following the completion of the sale, the chief accounting officer owned 3,485 shares of the company’s stock, valued at $282,285. This represents a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

WAL has been the subject of several recent analyst reports. TD Cowen lifted their price target on Western Alliance Bancorporation from $89.00 to $90.00 and gave the company a “hold” rating in a report on Monday, July 27th. Citigroup raised their target price on shares of Western Alliance Bancorporation from $96.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Stifel Nicolaus set a $95.00 target price on shares of Western Alliance Bancorporation in a report on Thursday, July 23rd. Weiss Ratings raised shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Finally, DA Davidson set a $36.00 price target on shares of Western Alliance Bancorporation in a research note on Wednesday, July 22nd. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.82.

Western Alliance Bancorporation 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.