Tudor Investment Corp Et Al Invests $489,000 in Western Alliance Bancorporation (NYSE:WAL)

Posted by on Mar 7th, 2023

Tudor Investment Corp Et Al acquired a new position in Western Alliance Bancorporation (NYSE:WAL – Get Rating) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,442 shares of the financial services provider’s stock, valued at approximately $489,000.

Other large investors have also recently made changes to their positions in the company. Ronald Blue Trust Inc. acquired a new position in shares of Western Alliance Bancorporation in the 2nd quarter worth approximately $27,000. IFP Advisors Inc lifted its holdings in Western Alliance Bancorporation by 106.4% during the 3rd quarter. IFP Advisors Inc now owns 646 shares of the financial services provider’s stock worth $48,000 after buying an additional 333 shares in the last quarter. TCTC Holdings LLC acquired a new stake in Western Alliance Bancorporation during the 2nd quarter worth approximately $56,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in Western Alliance Bancorporation by 412.5% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 902 shares of the financial services provider’s stock worth $59,000 after buying an additional 726 shares in the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in Western Alliance Bancorporation during the 1st quarter worth approximately $64,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 1,750 shares of the firm’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $73.16, for a total transaction of $128,030.00. Following the transaction, the insider now directly owns 20,244 shares of the company’s stock, valued at approximately $1,481,051.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WAL has been the topic of a number of research reports. TheStreet upgraded shares of Western Alliance Bancorporation from a “c+” rating to a “b” rating in a report on Thursday, February 2nd. StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Monday, February 27th. Stephens increased their target price on shares of Western Alliance Bancorporation from $80.00 to $86.00 in a research report on Thursday, January 26th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Western Alliance Bancorporation from $89.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 13th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $86.75.

Western Alliance Bancorporation Trading Down 0.3 %

Shares of Western Alliance Bancorporation stock opened at $75.39 on Tuesday. Western Alliance Bancorporation has a 1 year low of $54.86 and a 1 year high of $89.26. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.98 and a current ratio of 1.00. The company has a market capitalization of $8.26 billion, a P/E ratio of 7.77, a PEG ratio of 0.71 and a beta of 1.44. The company’s fifty day moving average is $69.71 and its two-hundred day moving average is $68.84.

Western Alliance Bancorporation (NYSE:WAL – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $2.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.67. Western Alliance Bancorporation had a net margin of 34.94% and a return on equity of 22.00%. The company had revenue of $701.20 million for the quarter, compared to the consensus estimate of $733.13 million. During the same period last year, the firm posted $2.32 EPS. Western Alliance Bancorporation’s revenue for the quarter was up 25.0% on a year-over-year basis. Analysts forecast that Western Alliance Bancorporation will post 10.34 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 3rd. Shareholders of record on Friday, February 17th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Thursday, February 16th. Western Alliance Bancorporation’s payout ratio is currently 14.85%.

Western Alliance Bancorporation Company 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.

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

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