SG Americas Securities LLC Boosts Holdings in Western Alliance Bancorporation $WAL

SG Americas Securities LLC lifted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 278.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,451 shares of the financial services provider’s stock after purchasing an additional 39,328 shares during the quarter. SG Americas Securities LLC’s holdings in Western Alliance Bancorporation were worth $3,787,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of WAL. Clearstead Advisors LLC increased its stake in Western Alliance Bancorporation by 144.6% during the 4th quarter. Clearstead Advisors LLC now owns 411 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 243 shares in the last quarter. Community Bank N.A. acquired a new position in Western Alliance Bancorporation during the third quarter valued at $37,000. Los Angeles Capital Management LLC acquired a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at about $38,000. Leonteq Securities AG acquired a new position in Western Alliance Bancorporation in the fourth quarter valued at approximately $44,000. Finally, V Square Quantitative Management LLC purchased a new stake in Western Alliance Bancorporation during the fourth quarter worth $45,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Up 0.8%

Western Alliance Bancorporation stock opened at $82.67 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $9.03 billion, a P/E ratio of 9.62, a P/E/G ratio of 0.64 and a beta of 1.34. The stock’s fifty day simple moving average is $79.64 and its 200-day simple moving average is $81.78. Western Alliance Bancorporation has a twelve month low of $65.82 and a twelve month high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.74. Western Alliance Bancorporation had a return on equity of 13.58% and a net margin of 17.03%.The business had revenue of $968.40 million during the quarter, compared to analysts’ expectations of $944.18 million. During the same quarter last year, the business posted $1.79 EPS. The business’s quarterly revenue was up 31.0% compared to the same quarter last year. As a group, equities analysts expect that Western Alliance Bancorporation will post 9.81 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

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

Insider Buying and Selling

In other Western Alliance Bancorporation news, CAO Ben Mucha sold 5,946 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 3,485 shares in the company, valued at $282,285. This represents a 63.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Weiss Ratings raised Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. 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 note on Thursday. Barclays reduced their price target on Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Jefferies Financial Group reiterated an “overweight” rating and issued a $105.00 target price on shares of Western Alliance Bancorporation in a report on Friday, March 6th. Finally, Keefe, Bruyette & Woods increased their price target on Western Alliance Bancorporation from $93.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $93.07.

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.