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

Proficio Capital Partners LLC acquired a new position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 88,302 shares of the financial services provider's stock, valued at approximately $7,377,000. Proficio Capital Partners LLC owned approximately 0.08% of Western Alliance Bancorporation as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of WAL. State Street Corp boosted 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 worth $388,197,000 after purchasing an additional 1,418,472 shares during the last quarter. FMR LLC boosted its stake in shares of Western Alliance Bancorporation by 93.3% in the 3rd quarter. FMR LLC now owns 2,793,014 shares of the financial services provider's stock worth $241,568,000 after buying an additional 1,347,921 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Western Alliance Bancorporation by 6,342.7% in the third quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider's stock valued at $44,522,000 after acquiring an additional 506,778 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Western Alliance Bancorporation during the third quarter worth $39,230,000. Finally, Westfield Capital Management Co. LP purchased a new position in Western Alliance Bancorporation in the third quarter worth $38,386,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Western Alliance Bancorporation Price Performance

NYSE WAL traded down $0.14 during trading hours on Thursday, hitting $76.64. The company had a trading volume of 419,849 shares, compared to its average volume of 1,154,414. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 0.63 and a beta of 1.43. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The firm has a 50 day simple moving average of $85.19 and a 200 day simple moving average of $86.05.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 EPS 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%. Equities research analysts expect that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.98%. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 21.41%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. DA Davidson reduced their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. StockNews.com upgraded Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Stephens reissued an "overweight" rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $98.07.

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.