Rockefeller Capital Management L.P. Acquires 157,199 Shares of Western Alliance Bancorporation (NYSE:WAL)

Rockefeller Capital Management L.P. raised its stake in Western Alliance Bancorporation (NYSE:WAL) by 926.5% in the third quarter, Holdings Channel reports. The fund owned 174,166 shares of the financial services provider’s stock after purchasing an additional 157,199 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Western Alliance Bancorporation were worth $15,064,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in WAL. V Square Quantitative Management LLC bought a new position in shares of Western Alliance Bancorporation in the third quarter worth about $31,000. ORG Wealth Partners LLC bought a new position in shares of Western Alliance Bancorporation in the third quarter worth about $33,000. ORG Partners LLC bought a new position in shares of Western Alliance Bancorporation in the second quarter worth about $36,000. UMB Bank n.a. lifted its holdings in shares of 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 worth $37,000 after acquiring an additional 249 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 187 shares during the last quarter. Institutional investors own 79.15% of the company’s stock.

Insider Buying and Selling

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $82.75, for a total value of $247,919.00. Following the transaction, the director now directly owns 4,056 shares of the company’s stock, valued at approximately $335,634. This trade represents a 42.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.75% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Truist Financial dropped their target price on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a report on Monday, October 21st. Barclays lifted their target price on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Royal Bank of Canada set a $99.00 target price on shares of Western Alliance Bancorporation and gave the stock an “outperform” rating in a research report on Friday, October 18th. StockNews.com downgraded shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Finally, Wedbush upped their price target on Western Alliance Bancorporation from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.73.

Western Alliance Bancorporation Stock Up 0.1 %

Shares of NYSE WAL opened at $93.61 on Monday. Western Alliance Bancorporation has a 12-month low of $50.56 and a 12-month high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The firm has a market cap of $10.30 billion, a PE ratio of 14.45, a P/E/G ratio of 1.47 and a beta of 1.44. The company’s fifty day simple moving average is $87.69 and its 200 day simple moving average is $76.76.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The firm had revenue of $833.10 million during the quarter, compared to analyst estimates of $811.40 million. As a group, sell-side analysts forecast that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.62%. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio is presently 23.46%.

Western Alliance Bancorporation Company Profile

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.