Western Alliance Bancorporation $WAL Shares Sold by Brant Point Investment Management LLC

Brant Point Investment Management LLC lessened its position in Western Alliance Bancorporation (NYSE:WAL) by 81.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,124 shares of the financial services provider’s stock after selling 23,000 shares during the period. Brant Point Investment Management LLC’s holdings in Western Alliance Bancorporation were worth $431,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Aigen Investment Management LP purchased a new stake in Western Alliance Bancorporation in the fourth quarter valued at approximately $206,000. UMB Bank n.a. grew its holdings in Western Alliance Bancorporation by 49.8% in the fourth quarter. UMB Bank n.a. now owns 1,676 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 557 shares during the period. Quarry LP purchased a new stake in Western Alliance Bancorporation in the fourth quarter valued at approximately $69,000. Smartleaf Asset Management LLC grew its holdings in Western Alliance Bancorporation by 390.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,172 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 1,729 shares during the period. Finally, Morgan Stanley grew its holdings in Western Alliance Bancorporation by 9.2% in the fourth quarter. Morgan Stanley now owns 1,296,374 shares of the financial services provider’s stock valued at $108,986,000 after purchasing an additional 109,384 shares during the period. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on WAL. Jefferies Financial Group restated an “overweight” rating and issued a $105.00 target price on shares of Western Alliance Bancorporation in a report on Friday, March 6th. JPMorgan Chase & Co. lowered their target price on shares of Western Alliance Bancorporation from $105.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. Citigroup lowered their target price on shares of Western Alliance Bancorporation from $103.00 to $96.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Piper Sandler lowered their target price on shares of Western Alliance Bancorporation from $94.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.93.

Western Alliance Bancorporation Price Performance

WAL opened at $83.47 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 0.88. Western Alliance Bancorporation has a 52-week low of $65.82 and a 52-week high of $97.23. The company has a 50 day moving average of $78.46 and a two-hundred day moving average of $81.93. The company has a market cap of $9.11 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.64 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data 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. Western Alliance Bancorporation had a net margin of 17.03% and a return on equity of 13.58%. The company had revenue of $968.40 million during the quarter, compared to the consensus estimate of $944.18 million. During the same period in the previous year, the firm earned $1.79 earnings per share. Western Alliance Bancorporation’s revenue for the quarter was up 31.0% on a year-over-year basis. On average, analysts expect that Western Alliance Bancorporation will post 9.8 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

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

Insider Transactions at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 3,485 shares in the company, valued at $282,285. The trade was a 63.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.68% of the stock is currently owned by corporate insiders.

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.