On May 26, 2023 at 09:58:17 ET an unusually large $1,974.00K block of Call contracts in Western Alliance Bancorp (WAL) was bought, with a strike price of $35.00 / share, expiring in 21 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 10.57 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in WAL options.
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 795 funds or institutions reporting positions in Western Alliance Bancorp. This is a decrease of 19 owner(s) or 2.33% in the last quarter. Average portfolio weight of all funds dedicated to WAL is 0.27%, an increase of 5.07%. Total shares owned by institutions decreased in the last three months by 9.10% to 108,737K shares. The put/call ratio of WAL is 1.14, indicating a bearish outlook.
Analyst Price Forecast Suggests 64.20% Upside
As of May 11, 2023, the average one-year price target for Western Alliance Bancorp is 58.18. The forecasts range from a low of 32.32 to a high of $74.55. The average price target represents an increase of 64.20% from its latest reported closing price of 35.43.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Western Alliance Bancorp is 3,144MM, an increase of 27.88%. The projected annual non-GAAP EPS is 11.09.
What are Other Shareholders Doing?
Capital International Investors holds 6,120K shares representing 5.64% ownership of the company. In it’s prior filing, the firm reported owning 6,617K shares, representing a decrease of 8.12%. The firm decreased its portfolio allocation in WAL by 47.11% over the last quarter.
Citadel Advisors holds 5,811K shares representing 5.35% ownership of the company. In it’s prior filing, the firm reported owning 1,313K shares, representing an increase of 77.40%. The firm increased its portfolio allocation in WAL by 148.63% over the last quarter.
Invesco holds 5,442K shares representing 5.01% ownership of the company. In it’s prior filing, the firm reported owning 807K shares, representing an increase of 85.18%. The firm decreased its portfolio allocation in WAL by 64.51% over the last quarter.
Price T Rowe Associates holds 4,807K shares representing 4.43% ownership of the company. In it’s prior filing, the firm reported owning 6,361K shares, representing a decrease of 32.33%. The firm decreased its portfolio allocation in WAL by 58.04% over the last quarter.
AGTHX – GROWTH FUND OF AMERICA holds 4,036K shares representing 3.72% ownership of the company. In it’s prior filing, the firm reported owning 3,587K shares, representing an increase of 11.11%. The firm increased its portfolio allocation in WAL by 23.44% over the last quarter.
Western Alliance Bancorp Declares $0.36 Dividend
On May 2, 2023 the company declared a regular quarterly dividend of $0.36 per share ($1.44 annualized). Shareholders of record as of May 12, 2023 received the payment on May 26, 2023. Previously, the company paid $0.36 per share.
At the current share price of $35.43 / share, the stock’s dividend yield is 4.06%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.27%, the lowest has been 0.93%, and the highest has been 5.51%. The standard deviation of yields is 0.89 (n=237).
The current dividend yield is 2.02 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.16. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.44%, demonstrating that it has increased its dividend over time.
Western Alliance Bancorp Background Information
(This description is provided by the company.)
With more than $30 billion in assets, Western Alliance Bancorporation is one of the country’s top-performing banking companies. The company has ranked in the top 10 on the Forbes ‘Best Banks in America’ list for five consecutive years, 2016-2020, and was named #1 best-performing of the 50 largest public U.S. banks for 2019 by S&P Global Market Intelligence. Its primary subsidiary, Western Alliance Bank, Member FDIC, helps business clients realize their ambitions with local teams of experienced bankers who deliver superior service and a full spectrum of customized loan, deposit and treasury management capabilities. Business clients also benefit from a powerful array of specialized financial services that provide strong expertise and tailored solutions for a wide variety of industries and sectors. A national presence with a regional footprint, Western Alliance Bank operates individually branded, full-service banking divisions and has offices in key markets nationwide.
Key filings for this company:
This story originally appeared on Fintel.
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