Forum Financial Management LP Buys Shares of 2,955 Western Alliance Bancorporation (NYSE:WAL)

Forum Financial Management LP purchased a new position in Western Alliance Bancorporation (NYSE:WAL) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,955 shares of the financial services provider’s stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in shares of Western Alliance Bancorporation during the 1st quarter valued at $27,000. V Square Quantitative Management LLC purchased a new stake in Western Alliance Bancorporation during the third quarter valued at $31,000. ORG Wealth Partners LLC bought a new position in Western Alliance Bancorporation in the third quarter valued at about $33,000. ORG Partners LLC bought a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at about $36,000. Finally, UMB Bank n.a. increased its position in shares of Western Alliance Bancorporation by 136.8% during the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 249 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL opened at $84.63 on Wednesday. The firm has a market cap of $9.32 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 1.31 and a beta of 1.44. The firm has a fifty day moving average price of $83.88 and a 200 day moving average price of $72.79. Western Alliance Bancorporation has a fifty-two week low of $43.20 and a fifty-two week high of $94.28. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.38 per share. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.80%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 22.84%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WAL. Stephens reissued an “overweight” rating and issued a $102.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Barclays cut their price objective on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their target price on Western Alliance Bancorporation from $85.00 to $92.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. cut their price target on Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, Wedbush raised their price objective 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. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.60.

Insider Transactions at Western Alliance Bancorporation

In related news, insider Barbara Kennedy sold 11,083 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $81.59, for a total transaction of $904,261.97. Following the completion of the transaction, the insider now directly owns 7,977 shares of the company’s stock, valued at approximately $650,843.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robert P. Latta sold 2,996 shares of the business’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 sale, the director now owns 4,056 shares in the company, valued at approximately $335,634. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $904,261.97. Following the sale, the insider now directly owns 7,977 shares in the company, valued at approximately $650,843.43. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.75% of the company’s stock.

Western Alliance Bancorporation 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.