Proficio Capital Partners LLC Buys Shares of 88,302 Western Alliance Bancorporation (NYSE:WAL)

Proficio Capital Partners LLC bought a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) in the fourth quarter, Holdings Channel reports. The fund bought 88,302 shares of the financial services provider’s stock, valued at approximately $7,377,000.

Several other large investors also recently modified their holdings of WAL. State Street Corp grew its holdings in Western Alliance Bancorporation by 46.2% during the third quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock valued at $388,197,000 after purchasing an additional 1,418,472 shares during the period. FMR LLC lifted its position in shares of Western Alliance Bancorporation by 93.3% during the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock valued at $241,568,000 after buying an additional 1,347,921 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Western Alliance Bancorporation by 4.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,896,377 shares of the financial services provider’s stock worth $164,019,000 after acquiring an additional 74,956 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in Western Alliance Bancorporation by 4.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider’s stock worth $157,369,000 after acquiring an additional 81,238 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Western Alliance Bancorporation by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,880,681 shares of the financial services provider’s stock valued at $162,701,000 after acquiring an additional 120,729 shares during the period. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $87.00 on Monday. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The stock has a market cap of $9.61 billion, a P/E ratio of 12.25, a PEG ratio of 0.63 and a beta of 1.46. The business’s 50-day moving average price is $86.80 and its two-hundred day moving average price is $86.29.

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

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.75%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.41%.

Analyst Ratings Changes

A number of brokerages have weighed in on WAL. UBS Group began coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a “buy” rating and a $115.00 target price for the company. DA Davidson cut their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Stephens reissued an “overweight” rating and set a $103.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. JPMorgan Chase & Co. cut their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, Barclays boosted their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.07.

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.