Weatherly Asset Management L. P. Makes New $238,000 Investment in Western Alliance Bancorporation (NYSE:WAL)

Weatherly Asset Management L. P. purchased a new stake in Western Alliance Bancorporation (NYSE:WAL) during the fourth quarter, Holdings Channel.com reports. The firm purchased 3,615 shares of the financial services provider’s stock, valued at approximately $238,000.

Several other large investors have also recently made changes to their positions in WAL. Parkside Financial Bank & Trust grew its stake in Western Alliance Bancorporation by 422.2% in the third quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 760 shares during the last quarter. Rakuten Securities Inc. purchased a new position in shares of Western Alliance Bancorporation in the 4th quarter worth approximately $65,000. Fortitude Family Office LLC bought a new position in shares of Western Alliance Bancorporation during the 4th quarter worth approximately $93,000. Impact Partnership Wealth LLC purchased a new stake in Western Alliance Bancorporation during the third quarter valued at approximately $146,000. Finally, Systematic Alpha Investments LLC acquired a new stake in Western Alliance Bancorporation in the third quarter valued at approximately $166,000. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Price Performance

WAL stock traded down $0.68 during mid-day trading on Wednesday, reaching $59.14. 205,817 shares of the company’s stock were exchanged, compared to its average volume of 1,452,039. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 8.57 and a beta of 1.47. Western Alliance Bancorporation has a 12-month low of $11.35 and a 12-month high of $70.23. The stock’s 50 day moving average is $59.43 and its 200 day moving average is $56.82. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.96 and a quick ratio of 0.93.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.69 by $0.03. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $711.34 million. During the same quarter in the previous year, the firm earned $2.30 EPS. On average, research analysts expect that Western Alliance Bancorporation will post 7.83 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were given a $0.37 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.48 annualized dividend and a dividend yield of 2.50%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.57%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Royal Bank of Canada lowered their price objective on Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating for the company in a research report on Monday. Barclays dropped their target price on shares of Western Alliance Bancorporation from $91.00 to $86.00 and set an “overweight” rating on the stock in a research report on Tuesday. DA Davidson dropped their price objective on shares of Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. dropped their price target on Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Finally, Wells Fargo & Company decreased their target price on Western Alliance Bancorporation from $72.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.56.

Western Alliance Bancorporation Profile

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.