Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC cut its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 5.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 7,453 shares of the financial services provider’s stock after selling 428 shares during the period. Moody Aldrich Partners LLC’s holdings in Western Alliance Bancorporation were worth $282,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in WAL. Synovus Financial Corp lifted its position in Western Alliance Bancorporation by 1,650.0% during the 1st quarter. Synovus Financial Corp now owns 840 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 792 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Western Alliance Bancorporation by 2,927.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,211 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 1,171 shares in the last quarter. Signaturefd LLC lifted its position in Western Alliance Bancorporation by 75.9% during the 1st quarter. Signaturefd LLC now owns 1,300 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 561 shares in the last quarter. CWM Advisors LLC acquired a new position in Western Alliance Bancorporation during the 1st quarter worth approximately $42,000. Finally, CENTRAL TRUST Co lifted its position in Western Alliance Bancorporation by 218.2% during the 2nd quarter. CENTRAL TRUST Co now owns 1,378 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 945 shares in the last quarter. 82.89% of the stock is currently owned by hedge funds and other institutional investors.

Shares of WAL stock traded down $0.46 on Friday, hitting $35.95. 478,483 shares of the stock traded hands, compared to its average volume of 688,325. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $3.63 billion, a PE ratio of 8.46 and a beta of 1.84. Western Alliance Bancorporation has a 1-year low of $20.90 and a 1-year high of $58.94. The company’s fifty day moving average is $36.88 and its 200 day moving average is $40.10.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings results on Thursday, July 16th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.24. The business had revenue of $319.67 million for the quarter, compared to analyst estimates of $305.38 million. Western Alliance Bancorporation had a return on equity of 14.52% and a net margin of 32.82%. As a group, equities research analysts expect that Western Alliance Bancorporation will post 3.58 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Thursday, August 13th. Western Alliance Bancorporation’s dividend payout ratio is currently 20.66%.

Several equities analysts recently commented on WAL shares. ValuEngine raised Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Thursday, April 30th. Wells Fargo & Co lowered Western Alliance Bancorporation from an “overweight” rating to an “equal weight” rating and set a $34.00 target price on the stock. in a research report on Tuesday, June 2nd. SunTrust Banks cut their target price on Western Alliance Bancorporation from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Royal Bank of Canada upped their target price on Western Alliance Bancorporation from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Finally, DA Davidson upped their target price on Western Alliance Bancorporation from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $45.22.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation operates as the holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. The company offers deposit products, including checking accounts, savings accounts, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts.

Further Reading: Float

Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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