In a recent transaction, Lance Gooden, representative of Texas's 5th congressional district, sold stock in Western Alliance (NYSE:WAL) Bancorporation (NYSE:WAL), which has seen its shares surge over 50% in the past six months according to InvestingPro data.
The sale, which occurred on November 15, 2024, was disclosed five days later, on November 20, 2024. The reported value of the transaction falls within the range of $50,001 to $100,000. The stock currently trades at $89.27, with InvestingPro analysis indicating the company is slightly undervalued.
Western Alliance Bancorporation, a prominent banking institution with a market capitalization of $9.73 billion, had its common stock sold by the congressman. The bank has maintained a solid track record of raising dividends for six consecutive years, currently offering a 1.68% yield. This type of asset, often referred to as a stock or share, represents ownership in a corporation and constitutes a claim on part of the corporation's assets and earnings.
The transaction was executed under the ownership of Lance Gooden himself, indicating that the shares were not held in any special type of account such as a 401k or IRA.
This report comes as part of the ongoing transparency efforts mandated by the STOCK Act, which requires members of Congress to disclose their transactions in a timely manner. As such, the public and investors alike can stay informed about the trading activities of their elected officials.
Lance Gooden has certified that the disclosed transaction is complete, correct, and compliant with the requirements of the STOCK Act.
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