Western Alliance Bancorporation (NYSE:WAL) Shares Purchased by Harbor Advisors LLC

Harbor Advisors LLC boosted its position in Western Alliance Bancorporation (NYSE:WAL) by 40.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,000 shares of the financial services provider’s stock after purchasing an additional 2,000 shares during the quarter. Harbor Advisors LLC’s holdings in Western Alliance Bancorporation were worth $585,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in Western Alliance Bancorporation in the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC raised its stake in Western Alliance Bancorporation by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 117 shares during the last quarter. Fifth Third Bancorp raised its stake in Western Alliance Bancorporation by 70.1% in the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 136 shares during the last quarter. Allworth Financial LP raised its stake in Western Alliance Bancorporation by 115.6% in the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 215 shares during the last quarter. Finally, Atala Financial Inc acquired a new position in Western Alliance Bancorporation in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. DA Davidson lowered their price target on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. UBS Group assumed coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price target for the company. Stephens restated an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Finally, StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.07.

Western Alliance Bancorporation Stock Up 1.0 %

Shares of NYSE:WAL opened at $77.39 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. The stock has a market capitalization of $8.55 billion, a P/E ratio of 10.90, a PEG ratio of 0.63 and a beta of 1.43. The stock has a 50-day simple moving average of $85.08 and a 200-day simple moving average of $86.00.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. Equities analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio is presently 21.41%.

About Western Alliance Bancorporation

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.