Western Alliance Bancorporation (NYSE:WAL) CAO J. Kelly Jr. Ardrey Sells 1,000 Shares

Western Alliance Bancorporation (NYSE:WALGet Free Report) CAO J. Kelly Jr. Ardrey sold 1,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $64.20, for a total transaction of $64,200.00. Following the completion of the sale, the chief accounting officer now owns 5,636 shares of the company’s stock, valued at $361,831.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Western Alliance Bancorporation Stock Down 2.9 %

Shares of WAL traded down $1.84 during mid-day trading on Thursday, hitting $62.52. 844,236 shares of the company’s stock were exchanged, compared to its average volume of 1,311,442. The company has a market cap of $6.88 billion, a PE ratio of 9.11, a P/E/G ratio of 1.22 and a beta of 1.47. Western Alliance Bancorporation has a 52 week low of $33.19 and a 52 week high of $70.23. The company has a 50-day simple moving average of $60.65 and a 200 day simple moving average of $59.39. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.87.

Western Alliance Bancorporation (NYSE:WALGet Free Report) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.03. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.77%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $711.34 million. During the same period last year, the business earned $2.30 EPS. On average, research analysts forecast that Western Alliance Bancorporation will post 7.44 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.37%. The ex-dividend date is Wednesday, May 15th. Western Alliance Bancorporation’s dividend payout ratio is 21.57%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WAL. Keefe, Bruyette & Woods cut their target price on shares of Western Alliance Bancorporation from $79.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. Barclays lowered their price target on shares of Western Alliance Bancorporation from $91.00 to $86.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Stephens reissued an “overweight” rating and issued a $82.00 price target on shares of Western Alliance Bancorporation in a report on Friday, April 19th. Wedbush reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Western Alliance Bancorporation in a report on Wednesday, May 8th. Finally, Wells Fargo & Company lowered their target price on shares of Western Alliance Bancorporation from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Western Alliance Bancorporation has an average rating of “Moderate Buy” and an average price target of $72.47.

Check Out Our Latest Stock Analysis on WAL

Institutional Investors Weigh In On Western Alliance Bancorporation

Several hedge funds have recently added to or reduced their stakes in WAL. Allspring Global Investments Holdings LLC acquired a new stake in Western Alliance Bancorporation during the 1st quarter valued at $27,000. GAMMA Investing LLC lifted its holdings in shares of Western Alliance Bancorporation by 57.4% during the first quarter. GAMMA Investing LLC now owns 502 shares of the financial services provider’s stock worth $32,000 after buying an additional 183 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Western Alliance Bancorporation by 422.2% during the third quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock worth $43,000 after buying an additional 760 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth $65,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter worth $93,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

About Western Alliance Bancorporation

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Western Alliance Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Alliance Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.