Crossmark Global Holdings Inc. Acquires Shares of 5,465 Western Alliance Bancorporation (NYSE:WAL)

Crossmark Global Holdings Inc. bought a new position in shares of Western Alliance Bancorporation (NYSE:WAL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,465 shares of the financial services provider’s stock, valued at approximately $473,000.

A number of other institutional investors also recently modified their holdings of WAL. Allspring Global Investments Holdings LLC bought a new position in shares of Western Alliance Bancorporation during the first quarter worth approximately $27,000. V Square Quantitative Management LLC acquired a new stake in Western Alliance Bancorporation during the third quarter worth about $31,000. ORG Wealth Partners LLC acquired a new stake in shares of Western Alliance Bancorporation in the 3rd quarter valued at $33,000. ORG Partners LLC acquired a new position in Western Alliance Bancorporation during the second quarter worth about $36,000. Finally, UMB Bank n.a. boosted its position in Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after buying an additional 249 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Down 1.2 %

Shares of NYSE WAL opened at $90.38 on Friday. The stock has a market capitalization of $9.95 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.45 and a beta of 1.44. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $85.78 and its two-hundred day simple moving average is $74.45. Western Alliance Bancorporation has a 12-month low of $47.54 and a 12-month high of $96.45.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. The firm had revenue of $833.10 million during the quarter, compared to analysts’ expectations of $811.40 million. As a group, analysts expect that Western Alliance Bancorporation will post 7.13 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.38 dividend. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.68%. Western Alliance Bancorporation’s payout ratio is presently 22.84%.

Insider Buying and Selling at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $82.75, for a total transaction of $247,919.00. Following the transaction, the director now owns 4,056 shares of the company’s stock, valued at approximately $335,634. The trade was a 42.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Barbara Kennedy sold 11,083 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $81.59, for a total value of $904,261.97. Following the completion of the sale, the insider now owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. The trade was a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WAL shares. Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a research note on Friday, October 18th. Truist Financial reduced their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Wells Fargo & Company raised their target price on Western Alliance Bancorporation from $85.00 to $92.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Wedbush boosted their target price on Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Finally, Barclays boosted their target price on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

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