Western Alliance Bancorporation (NYSE:WAL) CAO J. Kelly Jr. Ardrey buys 2,000 shares


Western Alliance Bancorporation (NYSE:WAL – Get Rating) CAO J. Kelly Jr. Ardrey purchased 2,000 shares of the company in a trade that took place on Thursday, May 12. The shares were acquired at an average cost of $73.57 per share, with a total value of $147,140.00. Following the completion of the purchase, the accounting director now owns 8,090 shares of the company, valued at $595,181.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website.

J. Kelly Jr. Ardrey also recently made the following trade(s):

  • On Thursday, April 28, J. Kelly Jr. Ardrey purchased 3,000 shares of Western Alliance Bancorporation. The shares were acquired at an average cost of $78.67 per share, with a total value of $236,010.00.

WAL stock opened at $73.87 on Tuesday. Western Alliance Bancorporation has a 12-month low of $71.68 and a 12-month high of $124.93. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt ratio of 0.37. The company has a market capitalization of $8.00 billion, a price/earnings ratio of 8.22, a PEG ratio of 0.78 and a beta of 1.44. The company has a 50-day moving average of $80.15 and a two-hundred-day moving average of $97.65.

Western Alliance Bancorporation (NYSE:WAL – Get Rating) last released its results on Thursday, April 21. The financial services provider reported earnings per share (EPS) of $2.22 for the quarter, beating analyst consensus estimates of $2.06 by $0.16. Western Alliance Bancorporation posted a net margin of 41.03% and a return on equity of 21.77%. The company posted revenue of $555.80 million in the quarter, versus a consensus estimate of $540.09 million. In the same quarter of the previous year, the company achieved EPS of $1.90. The company’s revenue increased by 64.9% compared to the same quarter last year. On average, research analysts expect Western Alliance Bancorporation to post an EPS of 9.79 for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 27. Shareholders of record on Friday, May 13 will receive a dividend of $0.35 per share. The ex-dividend date is Thursday, May 12. This represents an annualized dividend of $1.40 and a dividend yield of 1.90%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 15.57%.

Institutional investors and hedge funds have recently changed their positions in the company. BOKF NA acquired a new position in shares of Western Alliance Bancorporation during the 3rd quarter with a value of $1,102,000. The Toronto Dominion Bank increased its stake in the shares of Western Alliance Bancorporation by 3,158.8% during the 4th quarter. The Toronto Dominion Bank now owns 36,108 shares of the financial services provider worth $3,887,000 after buying an additional 35,000 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in shares of Western Alliance Bancorporation during the 4th quarter at a value of $39,000. Janus Henderson Group PLC increased its stake in the shares of Western Alliance Bancorporation by 274.1% during the 3rd quarter. Janus Henderson Group PLC now owns 16,364 shares of the financial services provider worth $1,780,000 after buying an additional 11,990 shares in the last quarter. Finally, Toth Financial Advisory Corp increased its stake in Western Alliance Bancorporation shares by 191.1% during the 4th quarter. Toth Financial Advisory Corp now owns 1,409 shares of the financial services provider worth $152,000 after buying 925 additional shares in the last quarter. Institutional investors hold 87.16% of the company’s shares.

Several equity research analysts have recently commented on WAL shares. Truist Financial cut its price target on shares of Western Alliance Bancorporation from $140.00 to $110.00 in a Tuesday, April 26 research report. Zacks Investment Research downgraded shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating in a Wednesday, February 2, research report. StockNews.com began covering Western Alliance Bancorporation stocks in a research report on Thursday, March 31. They issued a “holding” rating for the company. Finally, Wedbush raised its price target on Western Alliance Bancorporation shares from $100.00 to $105.00 and gave the company an “outperform” rating in a Monday, April 25 research report. Two equity research analysts gave the stock a hold rating and seven gave the stock a buy rating. According to MarketBeat, Western Alliance Bancorporation has an average rating of “Buy” and a consensus price target of $128.25.

About Western Alliance Bancorporation (Get an evaluation)

Western Alliance Bancorporation operates as a bank holding company for Western Alliance Bank which provides various banking products and related services primarily in Arizona, California and Nevada. It operates in Commercial, Consumer Related, Corporate & Other segments. The Company offers deposit products, including checking, savings and money market accounts, as well as certificates of deposit accounts with fixed rates and fixed maturities; and cash management and residential mortgage products and services.

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