Intrust Bank NA Sells 610 Shares of Western Alliance Bancorporation (NYSE:WAL)

Intrust Bank NA decreased its stake in shares of Western Alliance Bancorporation (NYSE:WAL – Get Rating) by 8.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,414 shares of the financial services provider’s stock after selling 610 shares during the quarter. Intrust Bank NA’s holdings in Western Alliance Bancorporation were worth $382,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WAL. Benjamin Edwards Inc. bought a new position in shares of Western Alliance Bancorporation during the fourth quarter worth $26,000. CoreCap Advisors LLC bought a new position in Western Alliance Bancorporation during the fourth quarter valued at $38,000. EverSource Wealth Advisors LLC bought a new position in Western Alliance Bancorporation during the fourth quarter valued at $40,000. Ronald Blue Trust Inc. lifted its position in Western Alliance Bancorporation by 106.1% during the fourth quarter. Ronald Blue Trust Inc. now owns 672 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 346 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in Western Alliance Bancorporation by 106.4% during the third quarter. IFP Advisors Inc now owns 646 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 333 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on WAL. Royal Bank of Canada increased their price objective on shares of Western Alliance Bancorporation from $55.00 to $59.00 and gave the company an “outperform” rating in a research report on Thursday, April 20th. Odeon Capital Group began coverage on shares of Western Alliance Bancorporation in a research report on Wednesday, April 19th. They set a “hold” rating and a $32.00 price objective for the company. Hovde Group lowered their price objective on shares of Western Alliance Bancorporation from $65.00 to $55.00 in a research report on Thursday, April 6th. Keefe, Bruyette & Woods lowered their price objective on shares of Western Alliance Bancorporation from $85.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, April 6th. Finally, TheStreet downgraded shares of Western Alliance Bancorporation from a “b-” rating to a “c+” rating in a research note on Thursday, April 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and a consensus target price of $59.25.

Western Alliance Bancorporation Trading Up 0.1 %

WAL stock opened at $35.45 on Friday. The company has a market capitalization of $3.88 billion, a PE ratio of 4.04, a P/E/G ratio of 0.44 and a beta of 1.36. Western Alliance Bancorporation has a 12 month low of $7.46 and a 12 month high of $86.87. The firm’s 50-day moving average is $33.03 and its 200 day moving average is $54.56. The company has a debt-to-equity ratio of 3.20, a current ratio of 1.19 and a quick ratio of 1.05.

Western Alliance Bancorporation (NYSE:WAL – Get Rating) last posted its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $2.30 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.01). The company had revenue of $910.90 million during the quarter, compared to analysts’ expectations of $648.39 million. Western Alliance Bancorporation had a return on equity of 21.73% and a net margin of 28.75%. During the same period in the prior year, the business earned $2.22 EPS. On average, research analysts anticipate that Western Alliance Bancorporation will post 8.23 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Friday, May 12th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Thursday, May 11th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 16.44%.

Insider Buying and Selling

In other Western Alliance Bancorporation news, Director Marianne Boyd Johnson acquired 2,475 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was acquired at an average cost of $25.79 per share, for a total transaction of $63,830.25. Following the purchase, the director now owns 2,475 shares in the company, valued at approximately $63,830.25. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.57% of the stock is owned by company insiders.

Western Alliance Bancorporation Profile

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Western Alliance Bancorp is a bank holding company, which engages in the provision of deposit, lending, treasury management, international banking, and online banking products and services. It operates through the following business segments: Commercial, Consumer Related, and Corporate and Other. The Commercial segment focuses on delivering commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry.